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150128 ||| eng |
| 020 |
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|a 9781475510553
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| 100 |
1 |
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|a Hasanov, Fuad
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| 245 |
0 |
0 |
|a Public Debt Dynamics
|b The Effects of Austerity, Inflation, and Growth Shocks
|c Fuad Hasanov, Reda Cherif
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2012
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| 300 |
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|a 28 pages
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| 651 |
|
4 |
|a United States
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| 653 |
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|a Fiscal stance
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| 653 |
|
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|a Inflation
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| 653 |
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|a Public debt
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| 653 |
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|a Econometric analysis
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| 653 |
|
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|a Dynamic Treatment Effect Models
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| 653 |
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|a Public finance & taxation
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| 653 |
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|a Deflation
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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 Diffusion Processes
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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 Debts, External
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| 653 |
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|a Vector autoregression
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| 653 |
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|a Time-Series Models
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| 653 |
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|a Sovereign Debt
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| 653 |
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|a Price Level
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| 653 |
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|a Prices
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Econometrics
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| 653 |
|
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|a Dynamic Quantile Regressions
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| 653 |
|
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|a National Budget, Deficit, and Debt: General
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| 653 |
|
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|a Econometrics & economic statistics
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| 653 |
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|a State Space Models
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| 653 |
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|a Public Finance
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| 653 |
|
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|a Debt sustainability analysis
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| 700 |
1 |
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|a Cherif, Reda
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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 10.5089/9781475510553.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2012/230/001.2012.issue-230-en.xml?cid=26268-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 We study how macroeconomic shocks affect U.S. public debt dynamics using a VAR with debt feedback. Following a fiscal austerity shock, the debt ratio initially declines and then returns to its pre-shock path. Yet, the effect is not statistically significant. In a weak economic environment, the likelihood of a self-defeating austerity shock is much higher than in normal times. An inflation shock only slightly reduces the debt ratio for a few quarters. A positive growth shock unambiguously lowers debt. In our specification, the debt ratio is stationary, whereas a VAR excluding debt may imply an explosive debt path
|