Fiscal Sustainability: Conceptual, Institutional, and Policy Issues

Marek Dabrowski

No 4, CASE Working Papers from CASE-Center for Social and Economic Research

Abstract: The chronic nature of sovereign debt crises has resulted in the growing interest of analysts in finding both their real causes and the mechanisms of cross-country transmission - the so-called contagion effect. In this paper, we will try to answer the frequently asked question: what is the “safe” level of public debt (i.e. what level helps to avoid the risk of sovereign default)? Simultaneously, we will address various conceptual, institutional, and statistical dilemmas related to the definition and measurement of public debt.

Keywords: public debt; fiscal deficit; fiscal policy; public finance management; general government; fiscal rules (search for similar items in EconPapers)
JEL-codes: E62 H62 H63 H81 (search for similar items in EconPapers)
Date: 2016
New Economics Papers: this item is included in nep-mac and nep-pbe
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Persistent link: https://EconPapers.repec.org/RePEc:sec:worpap:0004

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