Hungary may be caused, however, by a one-time reduction in debt resulting from changes in pension system. …

in 2009-10. The debt-to-GDP ratio rose from 69% before the recent global financial crisis to 73% in 2010, creating a … followed a multi-pronged strategy. The potential for interaction between public debt management and monetary policy has … undoubtedly increased during the recent global crisis. This is due to the increase in short-term debt, which can jeopardise both …

Historically high levels of private and public debt coupled with already very low short-term interest rates appear to … considered is monetary financing by central banks to boost demand and/or relieve debt burdens. We find little empirical evidence …

increase of fiscal debt. This paper constructs a macroeconomic model of joint fiscal and monetary policy for an emerging open … types of households, optimizers and rule-ofthumb individuals, and a foreign debt via collateral constraint are modeled here …