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A Framework for Assessing Fiscal Sustainability and External Viability, with An Application to India

Parker, Karen Elizabeth - 1993

This paper presents a simple macroeconomic simulation model which can be used to evaluate alternative fiscal strategies and their implications for external viability. It attempts to bridge the gap between the literature on fiscal sustainability and the demands of operational work. The framework,...

Persistent link: https://www.econbiz.de/10014398059

Market-Based Fiscal Discipline in Monetary Unions : Evidence From the U.S. Municipal Bond Market

Goldstein, Morris - 1991

The concept of market-based fiscal discipline posits that a government which runs persistent, excessive fiscal deficits will face an increased cost of borrowing and eventually, a reduced availability of credit, and that these market actions will provide an incentive to correct irresponsible...

Persistent link: https://www.econbiz.de/10014398106

Exchange Market Reform, Inflation, and Fiscal Deficits

Ucer, E. Murat - 1995

This paper examines the short- and long-run effects of exchange market reform in developing countries. The first part reviews the recent experience of Guyana, India, Jamaica, Kenya, Sierra Leone, and Sri Lanka with exchange market reform. The second part studies analytically the short-run...

Persistent link: https://www.econbiz.de/10014398150

A Debt Intolerance Framework Applied to Central America, Panama and the Dominican Republic

Bannister, Geoffrey J. - 2011

This paper presents an alternative method for calculating debt targets using the debt intolerance literature of … papers by using a dynamic panel approach, correcting for endogeneity in the regressors and basing the calculation of debt … targets on credit ratings, a more objective criteria. In addition the study uses a new data base on general government debt …

Persistent link: https://www.econbiz.de/10014398315

Public Debt in Advanced Economies and its Spillover Effectson Long-Term Yields

Alper, C. Emre - 2011

Several models establish a positive association between public debt ratios and long-term real yields, but the empirical … advanced economies'' debt levels to other economies'' borrowing yields, especially in emerging markets. We extend the existing … emerging economies. We show that an increase in the public debt levels of large advanced economies - especially the United …

Persistent link: https://www.econbiz.de/10014398319

Rational Liquidity Crises in the Sovereign Debt Market : In Search of a Theory

Detragiache, Enrica - 1996

This paper studies under what circumstances creditworthy sovereign borrowers may be denied liquidity by rational creditors. It is shown that, when the creditor side of the market consists of many small investors there may be multiple rational expectations equilibria. In one equilibrium,...

Persistent link: https://www.econbiz.de/10014398322

The Coordination of Domestic Public Debt and Monetary Management in Economies in Transition : Issues and Lessons From Experience

International Monetary Fund - 1994

authorities, while monetary and public debt management cannot be strictly separated. This calls for close coordination of … objectives and instruments of monetary and debt management, and the development of supporting institutional and operational …

Persistent link: https://www.econbiz.de/10014398325

Fiscal Deficit and Public Debt in Industrial Countries, 1970-1994

Fanizza, Domenico - 1995

has been accompanied by a significant decline in world saving. The paper argues that the increase in public debt, which …

Persistent link: https://www.econbiz.de/10014398374

Fiscal Monitor, September 2011 : Addressing Fiscal Challenges to Reduce Economic Risks

International Monetary Fund / Fiscal Affairs Dept - 2011

. Many advanced economies face very large adjustment needs to reduce risks related to high debt ratios. The appropriate pace …

Persistent link: https://www.econbiz.de/10014398529

Bosnia and Herzegovina : Selected Issues

International Monetary Fund - 1998

This Selected Issues paper provides background information for the 1998 Article IV Consultation with Bosnia and Herzegovina. The paper contains an overview of economic and political developments. It describes the establishment of the Central Bank of Bosnia and Herzegovina, developments in the...

Persistent link: https://www.econbiz.de/10014398623