The Interactions between Debt and Currency Crises – Common Causes or Contagion? In contrast to the well-known twin currency and banking crises the literature has so far neglected a second type of twin crises, the simultaneous occurrence of currency and debt crises. The decision of a government to devalue and/or to default is closely interlinked through the government’s intertemporal budget cons...

It frEBT-management policies of the U.S. Government are actions which affect the composition of the publicly held Federal debt. Such actions include operations of both the U.S. Treasury and the Federal Reserve. As a macroeconomic policy tool, discretionary debt-management policy attempts to affect economic activity in a specific way by altering the maturity structure of the Government’s debt. T...

We evaluate the stabilization properties of several rules and instruments to reduce government debt in a Currency Union, like EMU. In two-country New-Keynesian DSGE model, with debt-elastic bond spread incomplete international financial markets, we study effects deleveraging, under different scenarios for fiscal policy coordination. find that greater is achieved when two countries coordinate by...

In this report, Jubilee Zambia presents a proposal of a set of guides on the development of a human-needs based Debt Sustainability Analysis Framework (DSA.). This proposal is formulated with a view to stimulate dialogue at national and international levels on the need to develop a human-need based framework on Debt Sustainability Analysis for Zambia. Jubilee Zambia believes that a better and e...