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This paper assesses the cyclicality and sustainability of fiscal policy in Belize and applies a stochastic simulation … debt sustainability. It recommends integrating such rules into a well-designed fiscal responsibility law and establishing …
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This paper highlights the importance of debt-related fiscal rules and derives growth-maximizing public debt ratios from a simple theoretical model. On the basis of evidence on the productivity of public capital, we estimate public debt targets that governments should try to maintain if they wish...
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We investigate the sustainability of fiscal policy in a set of 19 European Monetary Union (EMU) countries over the … period 1970-2016. Panel unit root tests in the presence of cross-section dependence show that the government debt series is …
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Our previous assessment of debt sustainability in developing Asia, conducted in 2011, found that the region's fiscal … outlook was mostly benign. In this study we update the debt sustainability assessment, taking stock of the latest data and … forecasts and the underlying macroeconomic assumptions. By and large, we find that standard debt sustainability analysis (DSA …
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