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The paper looks at the determinants of fiscal adjustments as reflected in the primary surplus of countries. Our conjecture is that governments will usually find it more attractive to pursue fiscal adjustments in a situation of relatively high growth, but based on a simple stylized model of...
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We extend previous work on the sustainability of the government's intertemporal budget constraint by allowing for non … large" budgetary unbalances are corrected. -- debt sustainability ; fiscal adjustment ; nonlinear models …
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