Albu, Lucian-Liviu (2008): A simulation model of public debt sustainability.
Download (202Kb) | Preview
There is a long period since the problem of public debt sustainability captures the attention of economists. However, there is no unanimity concerning an adequate unique sustainability indicator or function generally accepted. Just in this line of elaborating new models and improving methodologies in order to quantify the impact of various factors on public debt sustainability is our paper. Moreover, last years, during its pre- and post-accession into EU period, Romanian economy is facing to numerous problems. Among these, the public debt sustainability plays a central role, its implications practically expanding on all fields connected to the economic dynamics.
|Item Type:||MPRA Paper|
|Original Title:||A simulation model of public debt sustainability|
|Keywords:||public debt, sustainability function, contour plot, primary deficit, interest rate|
|Subjects:||C - Mathematical and Quantitative Methods > C5 - Econometric Modeling > C51 - Model Construction and Estimation
C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General > C15 - Statistical Simulation Methods: General
H - Public Economics > H6 - National Budget, Deficit, and Debt > H68 - Forecasts of Budgets, Deficits, and Debt
H - Public Economics > H6 - National Budget, Deficit, and Debt > H63 - Debt; Debt Management; Sovereign Debt
|Depositing User:||Lucian Liviu Albu|
|Date Deposited:||23. Nov 2008 02:14|
|Last Modified:||12. Feb 2013 15:18|
Albu, L.-L. (2002): “Sustainability Function”, Romanian Jornal for Economic Forecasting, 2, 5-14.
Barro, R. (1988): “The Ricardian Approach to Budget Deficits”, NBER, Working Paper, no. 2685.
Berge, P., Pomeau, Y., and Vidal, C. (1986): Order within Chaos, New York: Wiley.
Blanchard, O. J. (1990): “Suggestion for a New Set of Fiscal Indicators”, OECD Working Paper, 79.
Coricelli, F. (1997): “Fiscal Policy a Long Term View”, Economic Policy Initiative, 3, Forum Report of the Economic Policy Initiative.
Elmendorf, D.W. and Mankiw, G. (1998): “Government Debt”, Handbook of Macroeconomics, January.
Dornbusch, R. (1987): Debts and Deficits, Leuven and MIT University Press.
Dragota V., Dumitrescu D., Ruxanda Gh., Ciobanu A., Brasoveanu I., Stoian A., Lipara C. (2007): “Estimation of Control Premium: The Case of Romanian Listed Companies”, Economic Computation and Economic Cybernetics Studies and Research, Vol. 41, nr. 3-4/2007, Academy of Economic Studies.
Fry, M. (1992): “Some Stabilizing and Destabilizing Effects of Foreign Debt Accumulation in Developing Countries”, Economics Letters, 39, 315-321.
Garcia, F. (1998): “Public Debt Sustainability and Demand for Monetary Base”, Working Papers IMF. Mello, L. and Hussein, K. (2001): “Is Foreign Debt Portfolio Management Efficient in Emerging Economies?”, August, Working Paper, IMF.
Mundell, R.A. (1990): “Debts and Deficits in Alternative Macroeconomic Models”, Revista di Politica Economica, VII-VIII, 5-130.
Rocha, R.R. and Saldanha, F. (1992): “Fiscal and Quasi Fiscal Deficits, Nominal and Real Measurement and Policy Issues”, Working Paper, WPS.
Roubini, N. and Sachs, J. (1989): “Government spending and budget deficits in the industrial countries”, Economic Policy, April.
Stournaras, Y. (1990): “Public Sector Debt and Deficits in Greece”, Revista di POLITICA ECONOMICA, VII-VIII, 405-440.
*** OECD (1998): “Special Features, Macroeconomic Stabilisation and Restructuring Social Policy – Romania”, Economic Survey.