Series: IMF Working Papers
Author(s): Theodore Barnhill , and George Kopits
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 April 2003
Keywords: Value-at-Risk analysis, vulnerability to crises, emerging markets, fiscal sustainability, probability, fiscal risk, fiscal vulnerability, Criteria for Decision-Making under Risk and Uncertainty, Open Economy Macroeconomics,
Unlike conventional fiscal sustainability assessments, the Value-at-Risk approach developed in this paper explicitly captures the contribution of key risk variables to public sector vulnerability. In an illustrativ...