Signaling fiscal regime sustainability /

Signaling fiscal regime sustainability /

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Bibliographic Details
Author / Creator:	Drudi, Francesco.
Imprint:	[Washington, D.C.] : International Monetary Fund, Research Dept., ©1999.
Description:	1 online resource (38 pages) : illustrations
Language:	English
Series:	IMF working paper ; WP/99/86 IMF working paper ; WP/99/86.
Subject:	Fiscal policy -- Europe -- Econometric models. Debt -- Europe -- Econometric models. Taxation -- Europe -- Econometric models. Credit ratings -- Europe -- Econometric models. Debt -- Econometric models. Fiscal policy -- Econometric models. Taxation -- Econometric models. Europe.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12496972

Hidden Bibliographic Details
Other authors / contributors:	Prati, Alessandro, 1961- International Monetary Fund. Research Department.
ISBN:	1281430005 9781281430007
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 digitized 2010 HathiTrust Digital Library committed to preserve Print version record.
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.
Other form:	Print version: Drudi, Francesco. Signaling fiscal regime sustainability. [Washington, D.C.] : International Monetary Fund, Research Dept., ©1999

Description
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.
Physical Description:	1 online resource (38 pages) : illustrations
Format:	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.
Bibliography:	Includes bibliographical references (pages 36-38).
ISBN:	1281430005 9781281430007