The handbook is organized around three themes: (i) basic theory and tools for everyday use, (ii) the effects of … business cycles on public finance and the role of fiscal rules, and (iii) crises and their impact on fiscal sustainability. The … sustainability further, by extending it to topics at the forefront of policy debates in the recent past …

of fiscal policy sustainability in economies which operate in a highly volatile macroeconomic environment …

This article uses simple and self-contained optimal control theory and martingale methods to find optimal government …