In this paper, we try to answer if the empirical evidence on the Greek fiscal policy has been consistent with the government intertemporal budget constraint during two tested periods, 1833 to 2009 and 1960 to 2009. The recent Greek debt crisis provides a unique opportunity to test whether...

This paper develops a simple model of foreign debt portfolio management. The model suggests that, under mild conditions, the currency composition of a country's foreign debt portfolio is responsive to exchange rate movements. Empirical evidence is provided for a panel of 14 emerging economies in...