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150128 ||| eng |
| 020 |
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|a 9781484321737
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| 100 |
1 |
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|a Debrun, Xavier
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| 245 |
0 |
0 |
|a That Squeezing Feeling
|b The Interest Burden and Public Debt Stabilization
|c Xavier Debrun, Tidiane Kinda
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2013
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| 300 |
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|a 30 pages
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| 651 |
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4 |
|a Spain
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| 653 |
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|a Fiscal stance
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| 653 |
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|a Treasury Policy
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| 653 |
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|a Comparative or Joint Analysis of Fiscal and Monetary Policy
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| 653 |
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|a Public debt
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| 653 |
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|a Debt service
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| 653 |
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|a Stabilization
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| 653 |
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|a Public finance & taxation
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| 653 |
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|a National Deficit Surplus
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| 653 |
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|a Debt Management
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| 653 |
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|a Fiscal Policy
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| 653 |
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|a Debts, Public
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| 653 |
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|a Debt
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| 653 |
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|a Exports and Imports
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| 653 |
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|a Fiscal policy
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| 653 |
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|a International Lending and Debt Problems
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| 653 |
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|a International economics
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| 653 |
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|a External debt
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| 653 |
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|a Sovereign Debt
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| 653 |
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|a Interest payments
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Public Finance
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| 700 |
1 |
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|a Kinda, Tidiane
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781484321737.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2013/125/001.2013.issue-125-en.xml?cid=40567-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a The paper explores the extent to which the pressure of debt service on other spending items may push governments to embark on fiscal consolidation beyond what is strictly necessary to secure solvency. The empirical analysis identifies thresholds of interest bill indicators beyond which governments appear to shift to policies aimed at durably curbing the debt trajectory. Hence, in the current context of high inherited public debts, countries experiencing rising borrowing costs and interest payments would be more likely to enact more aggressive fiscal consolidations than warranted by strict solvency concerns. Conversely, those benefiting from persistently low interest rates despite rising debt stocks would likely opt for a more gradual fiscal consolidation path than what solvency considerations would normally dictate
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