نتایج جستجو برای: fiscal dominance
تعداد نتایج: 44113 فیلتر نتایج به سال:
We postulate a new method of measuring debt which we call the debt burden (DB). We claim that DB reveals the true debt obligations of the fiscal authority by taking the intertemporal debt obligations of the government into account. It is more accurate and more transparent than the currently used methods of assessing debt. DB is calculated on a daily basis and it clearly identifies debt risks. I...
Since the beginning of 2000s, however, the role of fiscal and monetary policy has started to become more active. Fiscal deficits and public debt levels in EMEs as a whole have declined substantially. Domestic financing has increased, and the share of foreign currency debt has fallen dramatically. And the average public debt maturity has lengthened significantly. What do these developments mean ...
Based on the hypothesis that rules of monetary and fiscal policy in Brazil may have been subject to different regimes, present study applies Leeper model (1991 2005) identify chronology regimes terms their active passive character. The are estimated using Markov-switching model, with a monthly database from November 2002 December 2015, which endogenously determined. results obtained indicate do...
Countries have significantly increased their public-sector borrowing since the Global Financial Crisis. As a consequence, monetary authorities may face pressure to deviate from policy targets in ways designed ease debt burden. In view of this consideration, we test for greater fiscal dominance over 2000-2017 under Inflation Targeting (IT) and non-IT regimes. We find that evidence varies across ...
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