interest rates. Moreover, sustainable debt ratios fall sharply when default risk is taken into account. …The ratios of public debt as a share of gdp of Brazil, Colombia and Mexico were 12 percentage points higher on average … during the period 1996-2005 than in the period 1990-1995. Costa Rica’s debt ratio remained stable but at a high level; near …

We examine the effects that international commodity price shocks have on external debt using panel data for a world … significant reduction in the level of external debt in democracies, but to no significant reduction in the level of external debt … commodity price shocks the risk of default on external debt decreased in democracies, but increased significantly in autocracies. …

Despite the rapid rise in public debt and large fiscal deficits, Japanese Government Bond (JGB) yields have remained …'s capacity to absorb debt is likely to diminish, as population aging reduces savings inflows and financial reforms enhance risk … appetite. This could in turn strengthen the link between JGB yields and the stock of public debt. In light of these structural …

capital markets art integrated, the fiscal policy of one country influences equilibrium wages and interest rates. Under …

, may serve Tanzania better. The "diamond rule" proposed in this paper incorporates a permanent hard ceiling on debt and …

objective and comprehensive appraisal of the implicit debt of the Czech social-security system. Such an estimate would be …, though the debt is thus far .implicit.. Taken all parts of the system together, the Czech social security system has … accumulated debt in excess of 250% GDP, level similar to other European countries. The debt level is, indeed sensitive to the …

enhances credibility and mitigates concerns about the effect of expansionary fiscal policy on the cost of borrowing and debt … stimulate growth in the short-run, if fiscal tightness lowers the cost of borrowing and debt service, and mitigates concerns … about debt sustainability. However, an increase in international reserves is evident to mitigate these concerns. On the …