Fiscal Sustainability: A 21st Century Guide for the Perplexed

“…20 For example, see Bernanke (2005) and Caballero (2006). In his extensive survey of the literature on fiscal sustainability, Tanner (2013) also concludes that the casual evidence suggesting governments can rely on r − g being negative absent financial repression is specious. 21 See also Mendoza and Ostry (2008), Ghosh et al (2011) and Mauro et al (2013).…”

Section: Privatizationmentioning

confidence: 96%

Dealing with debt

Reinhart

Rogoff

2015

Journal of International Economics

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a b s t r a c tThis paper explores the menu of options for renormalizing public debt levels relative to nominal activity in the long run, should governments eventually decide to do so. Although debt ratios may need to rise further in some cases, a vision of longer-term options is key to weighing alternative medium-term stabilization strategies. Orthodox ones, the standard fare of officialdom, include enhancing growth, running primary budget surpluses, and privatizing government assets. Heterodox polices include restructuring debt contracts, generating unexpected inflation, taxing wealth, and repressing private finance. Advanced countries have relied far more on heterodox approaches than many observers choose to remember.

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“…Thus, the time constraint of the budget shows the government's inability to continue the game of bonzi forever. Assuming Rashadh government, the behavior when borrowing is not the same Albonza financing but tends to pay off their debts on time periods in a row and therefore, the public debt of Seoul to zero in the future (Tanner, 2013).…”

Section: Sustainability Of Debt In the Context Of Budget Constraintmentioning

confidence: 99%

Assess the Sustainability of Public Debt in Iraq’s Oil Economy (Autoregressive Distributed Lag Methodology)

Ahmed¹,

Juboori²

2020

J. Eng. Appl. Sci.

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It led to the decline of oil revenues below levels normalized by the public budgets of the worsening fiscal deficits and levels of public debt in Iraq. The sustainability of public debt and the ability of the government to track the flow of public spending and meet its future financial obligations are dominated by most economic and financial studies given the importance of fiscal sustainability framework in the design, implementation and effectiveness of macroeconomic policies including fiscal policy in particular. This study attempts to monitor and analyze the public debt trajectory in the Iraqi economy through the discussion of modern approaches in assessing fiscal sustainability in resource-rich countries, the design of the standard model based on self-regression approach for periods of Distributed delay Autoregressive Distributed Lag (ARDL) to assess the sustainability of the public debt during the period . And out a set of procedural policies guaranteeing the continuity of government debt service (internal and external) and to achieve justice between generations and the rebuilding of the fiscal space that allows fiscal policy room for maneuver during periods of boom and bust oil.

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Fiscal Sustainability: A 21st Century Guide for the Perplexed

Cited by 22 publications

References 54 publications

Public Debt, Sustainability and Economic Growth

Public Debt, Sustainability and Economic Growth

Dealing with debt

Assess the Sustainability of Public Debt in Iraq’s Oil Economy (Autoregressive Distributed Lag Methodology)

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