Hidden Bibliographic Details
| Other authors / contributors: | Prati, Alessandro, 1961-
International Monetary Fund. Research Department.
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| ISBN: | 1281430005
9781281430007
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| Notes: | Includes bibliographical references (pages 36-38).
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
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Print version record.
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| Summary: | Since the early 1980s, several European countries have adopted fiscal consolidation programs aimed at stabilizing their public debt-to-GDP ratios. This policy was dictated by the need to reassure the markets that the fiscal regime was sustainable and avoid otherwise constantly increasing risk premia and debt financing costs. In turn, the success of the fiscal tightening and its cost depended critically on the speed at which credibility was regained. This interplay between fiscal variables and interest rates is the focus of the theoretical and empirical analysis of this paper. The theoretical part of the paper consists of a signaling model of fiscal policy, whereas the empirical part focuses on the experience of Italy, Ireland, Belgium, and Denmark, from the late 1970s to the 1990s.
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| Other form: | Print version: Drudi, Francesco. Signaling fiscal regime sustainability. [Washington, D.C.] : International Monetary Fund, Research Dept., ©1999
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