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The Unexplained Part of Public Debt

Dany Jaimovich, Ugo Panizza and Camil F.S. Campos

No 1571, IDB Publications (Working Papers) from Inter-American Development Bank

Abstract: This paper shows that budget deficits account for a relatively small fraction of debt growth and that stock-flow reconciliation, which is often considered a residual entity, is one of the key determinants of debt dynamics. After having explained the importance of the stock-flow reconciliation, the paper shows that this residual entity can be partly explained by contingent liabilities and balancesheet effects.

Keywords: WP-554 (search for similar items in EconPapers)
Date: 2011-02
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Related works:
Journal Article: The unexplained part of public debt (2006) Downloads
Working Paper: The Unexplained Part of Public Debt (2006) Downloads
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