a sustainable debt position, even after many of these countries have benefited from substantial debt relief. These …, the use of more complex financing vehicles, and the development of domestic markets. The joint World Bank/IMF debt … sustainability framework is well placed to help address these challenges and reduce the risks of renewed episodes of debt distress …

a country's financial vulnerability. The indicator has a higher correlation with default episodes than other indicators …

We apply the fundamentals equilibrium exchange rate (FEER) approach and the Johansen cointegration methodology to …

panel cointegration estimation techniques to an expanded data set that we have constructed for the purpose of this study …

in human capital or skill. Using Johansen's (1988 and 1991) multivariate cointegration analysis, we find a positive and …

, we employ both single-country (Johansen and ARDL) and panel-data (FMOLS and PMG) cointegration techniques. We find that … underscores the need for robustness analyses in exchange rate modeling; and (iii) results from panel-data cointegration may …

statistics for sequential testing. We show that, for most types of data generating processes in samples with as low as 50 … time series works well in large samples, but they found substantial deviations in both the size and power of their tests in … smaller samples. We propose modifying their methodology to deal with small samples by using Monte Carlo simulations to …

This paper proposes a probabilistic approach to public debt sustainability analysis (DSA) using "fan charts." These … depict the magnitude of risks-upside and downside-surrounding public debt projections as a result of uncertain economic … conditions and policies. We propose a simulation algorithm for the path of public debt under realistic shock configurations …