This article surveys the literature on sovereign debt sustainability from its origins in the mid-1980s to the present …, focusing on four debates. First, the shift from an "accounting based" view of debt sustainability, evaluated using government … borrowing rates, to a "model based" view which uses stochastic discount rates. Second, empirical tests focusing on the …

The large Public Sector Purchase Programme (PSPP) which the ECB started in 2015 on the basis of monetary policy … purposes, had major side-effects on fiscal policy. One concerns the programme´s uncommon seigniorage effects. We find that the … interest rates on the excess reserves which have been created by the programme. Another effect of the PSPP is its interference …

To reinforce the long-term sustainability of public finances, the South African National Treasury has proposed a set of … inter-generational equity. Owing to the sound management of the fiscus during the six years of strong economic growth (2002 …–2007), budget surpluses and fiscal space were created.The South African economy entered the 2008–2009 recession with healthy public …

This paper covers fiscal policy tools that promote sustainability and their influence on monetary policy in Russia, the … Bank of Russia's role in public debt management and main features of the domestic currency public debt market. At present … Russia's budgetary circumstances are quite favourable, however, the budgetary system remains exposed to the world financial …