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Signaling Fiscal Regime Sustainability

Signaling Fiscal Regime Sustainability »

Volume/Issue: 1999/86

Series: IMF Working Papers

Author(s): Alessandro Prati , and Francesco Drudi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1999

DOI: http://dx.doi.org/10.5089/9781451850864.001

ISBN: 9781451850864

Keywords: signaling, fiscal stabilization, tax smoothing, debt sustainability, credit ratings, debt stock, stock of debt, public debt, fiscal regime, primary deficit

This paper proposes a signaling model that offers a new perspective on why governments deviate from optimal tax smoothing and delay debt stabilization. In our model, dependable—but not fully credible—...

Signaling Fiscal Regime Sustainability

Signaling Fiscal Regime Sustainability »

Source: Signaling Fiscal Regime Sustainability

Volume/Issue: 1999/86

Series: IMF Working Papers

Author(s): Alessandro Prati , and Francesco Drudi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1999

ISBN: 9781451850864

Keywords: signaling, fiscal stabilization, tax smoothing, debt sustainability, credit ratings, debt stock, stock of debt, public debt, fiscal regime, primary deficit

This paper proposes a signaling model that offers a new perspective on why governments deviate from optimal tax smoothing and delay debt stabilization. In our model, dependable—but not fully credible—...