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A Debt Intolerance Framework Applied to Central America, Panama and the Dominican Republic

A Debt Intolerance Framework Applied to Central America, Panama and the Dominican Republic »

Source: A Debt Intolerance Framework Applied to Central America, Panama and the Dominican Republic

Volume/Issue: 2011/220

Series: IMF Working Papers

Author(s): Geoffrey Bannister , and Luis Barrot

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

ISBN: 9781463904227

Keywords: CAPDR, debt intolerance, equation, debt ratio, public debt, external debt, Financial Markets and the Macroeconomy, International Finance: General, International Lending and Debt Problems,

This paper presents an alternative method for calculating debt targets using the debt intolerance literature of Reinhart, Rogoff, and Savastano (2003) and Reinhart and Rogoff (2009). The methodology presented impro...

Debt Maturity

Debt Maturity »

Source: Debt Maturity : Does It Matter for Fiscal Space?

Volume/Issue: 2015/257

Series: IMF Working Papers

Author(s): Jun Kim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 December 2015

ISBN: 9781513511931

Keywords: Debt sustainability, Fiscal policy, Public debt, Econometric models, Fiscal space, Sovereign debt defaults, sovereign default, debt maturity, debt limit, Deficit

This paper examines how debt maturity affects the debt limit, defined as the maximum amount of debt a government can afford without defaulting. We develop a model where investors are risk neutral, the primary balan...

Debt Overhang or Debt Irrelevance? Revisiting the Debt-Growth Link

Debt Overhang or Debt Irrelevance? Revisiting the Debt-Growth Link »

Source: Debt Overhang or Debt Irrelevance? Revisiting the Debt-Growth Link

Volume/Issue: 2005/223

Series: IMF Working Papers

Author(s): Tito Cordella , Luca Ricci , and Marta Ruiz-Arranz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2005

ISBN: 9781451862423

Keywords: Growth, Debt Overhang, Debt Irrelevance, HIPCs, external debt, public debt, International Lending and Debt Problems, Economic Growth and Aggregate Productivity: General,

Do Highly Indebted Poor Countries (HIPCs) suffer from a debt overhang? Is debt relief going to improve their growth rates? To answer these important questions, we look at how the debt-growth relationship varies wit...

Designing Legal Frameworks for Public Debt Management

Designing Legal Frameworks for Public Debt Management »

Source: Designing Legal Frameworks for Public Debt Management

Volume/Issue: 2015/147

Series: IMF Working Papers

Author(s): Elsie Addo Awadzi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 July 2015

ISBN: 9781513529561

Keywords: National Debt, Government loans and guarantees, Legal framework for Public Debt Management, debt, public debt, legal framework, Governmental Loans and Credits,

Sustainable public debt has gained renewed attention as countries implement fiscal consolidation measures in the aftermath of the global financial crisis. Sound public debt policies and debt management practices re...

Determinants of Investment Grade Status in Emerging Markets

Determinants of Investment Grade Status in Emerging Markets »

Source: Determinants of Investment Grade Status in Emerging Markets

Volume/Issue: 2010/117

Series: IMF Working Papers

Author(s): Laura Jaramillo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2010

ISBN: 9781455200764

Keywords: Credit Ratings, Rating Agencies, external public debt, external debt, domestic public debt, private external debt

Emerging market countries seek investment grade status to lower financing costs for the sovereign, expand the pool of potential investors to institutional investors, and allow corporates the possibility of reducing...

The Distributional Effects of Fiscal Consolidation

The Distributional Effects of Fiscal Consolidation »

Source: The Distributional Effects of Fiscal Consolidation

Volume/Issue: 2013/151

Series: IMF Working Papers

Author(s): Laurence Ball , Davide Furceri , Daniel Leigh , and Prakash Loungani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 June 2013

ISBN: 9781475551945

Keywords: distributional effects, fiscal consolidation episodes, fiscal consolidations, fiscal adjustments, public debt, Equity, Justice, Inequality, and Other Normative Criteria and Measurement,

This paper examines the distributional effects of fiscal consolidation. Using episodes of fiscal consolidation for a sample of 17 OECD countries over the period 1978–2009, we find that fiscal consolidation h...

Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel

Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel »

Source: Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel

Volume/Issue: 2013/159

Series: IMF Working Papers

Author(s): Salvatore Dell'Erba , and Sergio Sola

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 July 2013

ISBN: 9781484394502

Keywords: Real time data, Cross-sectional dependence, Heterogeneous panels, public debt, fiscal stance, budget deficits, fiscal variables, General, International Policy Coordination and Transmission, Globalization: Macroeconomic Impacts

This paper reconsiders the effects of fiscal policy on long-term interest rates employing a Factor Augmented Panel (FAP) to control for the presence of common unobservable factors. We construct a real-time dataset...

Dollarization and Maturity Structure of Public Securities

Dollarization and Maturity Structure of Public Securities »

Source: Dollarization and Maturity Structure of Public Securities : The Experience of Bolivia

Volume/Issue: 2008/157

Series: IMF Working Papers

Author(s): Esteban Vesperoni , and Walter Orellana R.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2008

ISBN: 9781451870152

Keywords: debt profiles, maturity structure, currency composition, bonds, central bank, domestic currency, domestic debt, public debt,

The public debt profile has improved in Bolivia in recent years, with regard to both the maturity structure and the currency composition. This paper analyzes changes in the public debt profile in Bolivia since 2000...

Economic Announcements and the Timing of Public Debt Auctions

Economic Announcements and the Timing of Public Debt Auctions »

Source: Economic Announcements and the Timing of Public Debt Auctions

Volume/Issue: 1998/44

Series: IMF Working Papers

Author(s): Marco Rossi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1998

ISBN: 9781451846386

Keywords: debt management, public debt auctions, financial markets efficiency, monetary aggregates, bond, government securities, bond prices

Most treasuries around the world sell their securities at auctions either directly or indirectly through an agent, usually the central bank. Although they can control both the rules and the timing of the auction, t...

Effects of Macroeconomic Stabilityon Growth, Savings, and Investment in Sub-Saharan Africa

Effects of Macroeconomic Stabilityon Growth, Savings, and Investment in Sub-Saharan Africa »

Source: Effects of Macroeconomic Stabilityon Growth, Savings, and Investment in Sub-Saharan Africa : An Empirical Investigation

Volume/Issue: 1994/98

Series: IMF Working Papers

Author(s): Dhaneshwar Ghura , E. Ucer , Martin Mühleisen , Michael Hadjimichael , and Roger Nord

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1994

ISBN: 9781451852073

Keywords: inflation, terms of trade, interest, debt, public debt

The analysis of this paper indicates that the unsatisfactory overall economic performance of sub-Saharan African countries during 1986–93 was due to inappropriate policies pursued by a number of countries. T...