specifically on their degree of success, notably in terms of fiscal sustainability. The "need" to consolidate is based on having a … primary balance above or below the debt-stabilizing primary balance (provided by the IMF's Debt Sustainability Analysis) for … each country. We then link the need for and the actual (historical) existence of fiscal adjustments to their sustainability …

We investigate the sustainability of fiscal policy in a set of 19 European Monetary Union (EMU) countries over the … period 1970-2016. Panel unit root tests in the presence of cross-section dependence show that the government debt series is …

We examine the relationship between inflation and fiscal sustainability with a two-step approach. In the first step, we … estimate to estimate a country-specific time-varying measure of fiscal sustainability using the fiscal reaction function. This … estimate of fiscal sustainability found previously. Our findings indicate that higher inflation rates contribute positively to …

debt crisis has prompted a fundamental re-evaluation of public debt sustainability and the looming threat of sovereign debt …'s peacetime debt-to-GDP (Gross Domestic Product) ratio has never been higher. In this paper, we analyse the sustainability of … analysis, we conduct formal tests on fiscal sustainability, including tests on stationarity and cointegration and the …