-relevant outcomes, such as education and health services, public investment, and fiscal deficits. This paper examines how …

period 1990-2016, and includes 28 indicators of fiscal space grouped into four categories: debt sustainability, balance sheet … vulnerability, external and private sector debt related risks as potential causes of contingent liabilities, and market access. We …

This model investigates the risks involved when a fiscal authority attempts to roll-over a stock of debt when there is …'s willingness to repay, decide whether to roll-over the stock of debt. If an insufficient proportion of investors participate then …. Lower debt in the less indebted authority can push a more indebted authority into crisis. Lower debt makes the healthier …

salience of which can only have been increased by the ongoing fiscal crisis and bailout in Greece and the immediate fiscal … attention to fiscal imbalances is attributable to the rapid increases in debt to GDP ratios arising from the recession, either …-cyclical discretionary fiscal measures undertaken. Table 1 shows the evolution of net general government debt to GDP ratios for several …

The financial crisis and recession have left a legacy of unusually large fiscal deficits and growing sovereign debt … policy record as well as the current level of debt. The analysis indicates that all advanced countries except Greece, Japan …. Fiscal space is defined as the room the government has to borrow before it hits a debt limit, the level of debt to GDP at …