Fiscal Limits, External Debt, and Fiscal Policy in Developing Countries

Fiscal Limits, External Debt, and Fiscal Policy in Developing Countries
This paper studies fiscal policy effects in developing countries with external debt and sovereign default risks. State-dependent distributions of fiscal limits are simulated based on macroeconomic uncertainty and fiscal policy specifications. The analysis shows that expected future revenue plays an important role in the low fiscal limits of... READ MORE...

Publication date: March 2014
ISBN 9781475521665
$18.00

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