Probabilistic sustainability of public debt : a vector autoregression approach for Brazil, Mexico, and Turkey /

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Bibliographic Details
Author / Creator:Tanner, Evan, author.
Imprint:[Washington, D.C.] : IMF Institute and African Dept., 2006.
Description:1 online resource (42 pages) : illustrations
Language:English
Series:IMF working paper ; WP/06/295
IMF working paper ; WP/06/295.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12495588
Hidden Bibliographic Details
Other authors / contributors:Samaké, Issouf, author.
IMF Institute.
International Monetary Fund. African Department.
ISBN:146234979X
9781462349791
1452705739
9781452705736
1283516721
9781283516723
9786613829177
661382917X
1451910088
9781451910087
Digital file characteristics:text file
Notes:Includes bibliographical references (pages 39-42).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
Summary:This paper examines the sustainability of fiscal policy under uncertainty in three emerging market countries, Brazil, Mexico, and Turkey. For each country, we estimate a vector autoregression (VAR) that includes fiscal and macroeconomic variables. Retrospectively, a historical decomposition shows by how much debt accumulation reflects unsustainable policy, adverse shocks, or both. Prospectively, Monte Carlo techniques reveal the primary surplus that is required to keep the debt/GDP ratio from rising in all but the worst 50 percent, 25 percent, and 10 percent of circumstances. Such a value-at-risk approach presents a clearer menu of policy options than currently used frameworks.
Other form:Print version: Tanner, Evan. Probabilistic sustainability of public debt. [Washington, D.C.] : IMF Institute and African Dept., 2006

MARC

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490 1 |a IMF working paper ;  |v WP/06/295 
504 |a Includes bibliographical references (pages 39-42). 
520 |a This paper examines the sustainability of fiscal policy under uncertainty in three emerging market countries, Brazil, Mexico, and Turkey. For each country, we estimate a vector autoregression (VAR) that includes fiscal and macroeconomic variables. Retrospectively, a historical decomposition shows by how much debt accumulation reflects unsustainable policy, adverse shocks, or both. Prospectively, Monte Carlo techniques reveal the primary surplus that is required to keep the debt/GDP ratio from rising in all but the worst 50 percent, 25 percent, and 10 percent of circumstances. Such a value-at-risk approach presents a clearer menu of policy options than currently used frameworks. 
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588 0 |a Print version record. 
505 0 |a Contents -- I. INTRODUCTION -- II. FISCAL SUSTAINABILITY: SOME PREVIOUS WORK -- III. OVERVIEW OF OUR METHODOLOGY -- IV. BRAZIL, 2000â€?05 -- V. MEXICO -- VI. TURKEY -- VII. SUMMARY AND CONCLUSIONS -- APPENDIX ECONOMETRIC METHODOLOGY AND ESTIMATES -- REFERENCES 
546 |a English. 
650 0 |a Debts, Public  |z Brazil  |x Econometric models. 
650 0 |a Debts, Public  |z Mexico  |x Econometric models. 
650 0 |a Debts, Public  |z Turkey  |x Econometric models. 
650 0 |a Fiscal policy  |z Brazil  |x Econometric models. 
650 0 |a Fiscal policy  |z Mexico  |x Econometric models. 
650 0 |a Fiscal policy  |z Turkey  |x Econometric models. 
650 6 |a Dettes publiques  |z Brésil  |x Modèles économétriques. 
650 6 |a Dettes publiques  |z Mexique  |x Modèles économétriques. 
650 6 |a Politique fiscale  |z Brésil  |x Modèles économétriques. 
650 6 |a Politique fiscale  |z Mexique  |x Modèles économétriques. 
650 7 |a Debts, Public  |x Econometric models.  |2 fast  |0 (OCoLC)fst00888859 
650 7 |a Fiscal policy  |x Econometric models.  |2 fast  |0 (OCoLC)fst00925810 
651 7 |a Brazil.  |2 fast  |0 (OCoLC)fst01206830 
651 7 |a Mexico.  |2 fast  |0 (OCoLC)fst01211700 
651 7 |a Turkey.  |2 fast  |0 (OCoLC)fst01208963 
655 4 |a Computer network resources. 
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710 2 |a International Monetary Fund.  |b African Department. 
776 0 8 |i Print version:  |a Tanner, Evan.  |t Probabilistic sustainability of public debt.  |d [Washington, D.C.] : IMF Institute and African Dept., 2006  |w (OCoLC)144443560 
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