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sufficient fiscal buffers during normal and good times. It has also reaffirmed the need for a thorough debt sustainability … narrative shock scenarios; (ii) a stochastic DSA, providing for a probabilistic approach to debt sustainability; and (iii) other … summarised in a heat map, which can provide guidance on the overall assessment of risks to debt sustainability. This method …
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We examine whether US and German state governments pursue sustainable fiscal policies taking into account fiscal transfers. Using panel data techniques we investigate whether the debt-to-GDP ratio had a positive influence on the primary surplus (Bohn-model). We show that including/excluding...
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In this paper we analyze the sustainability of public finances in the states (Laender) of the Federal Republic of … and 1991 to 2011 for East German Laender, respectively. In order to assess the fiscal sustainability of the (Laender) we … strict fiscal sustainability in most of the 16 German Laender. A notable exception to this finding is Bavaria. …
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