La pandemia de COVID-19 marcó un punto de inflexión para las finanzas públicas en América Latina y el mundo. Las medidas fiscales adoptadas en 2020 para hacer frente a la emergencia sanitaria fueron numerosas y afectaron a la dinámica de la deuda. Si bien la situación se revirtió...

Caribbean Islands are exposed to hurricanes, the damages of which are projected to intensify due to anthropogenic climate change. The region is also highly indebted. We focus on the interaction between climate change, hurricanes, and public debt. We investigate what the typical impact of...

This paper presents a comprehensive framework examining fiscal sustainabil- ity in developing economies. It integrates public capital, labor informality, and global liquidity shocks in a two-sector DSGE model for a small open economy, revealing their intricate interplay and nonlinear impact on...

The authors review the challenges that the Romanian economy and society had to face in the European and global geoeconomic context. Starting from the perspectives advanced by the international economic fora, the risks the European economy will have to answer through counteracting and general...

The euro area suffers from excessive public debt, which is the primary cause of the so-called fragmentation. It should be remedied by fiscal consolidation instead of the quasi-fiscal activities of the European Central Bank, which are inconsistent with its legal status, compromise its...

This study analyzes the correlation between the primary budget balance and the public debt over the last two decades, for a panel of 12 countries from Central and Eastern Europe, in order to assess their debt sustainability, the level of debt at which fiscal fatigue may occur, as well as the...