Coverart for item
The Resource That squeezing feeling : the interest burden and public debt stabilization, Xavier Debrun and Tidiane Kinda

That squeezing feeling : the interest burden and public debt stabilization, Xavier Debrun and Tidiane Kinda

Label
That squeezing feeling : the interest burden and public debt stabilization
Title
That squeezing feeling
Title remainder
the interest burden and public debt stabilization
Statement of responsibility
Xavier Debrun and Tidiane Kinda
Creator
Contributor
Author
Issuing body
Subject
Genre
Language
eng
Summary
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
Member of
Cataloging source
IDEBK
http://bibfra.me/vocab/lite/collectionName
IMF eLibrary
http://library.link/vocab/creatorName
Debrun, Xavier
Government publication
international or intergovernmental publication
Illustrations
illustrations
Index
no index present
LC call number
HG3881.5.I58
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
  • Kinda, Tidiane
  • International Monetary Fund
Series statement
IMF Working Paper
Series volume
WP/13/125
http://library.link/vocab/subjectName
  • Interest
  • Debts, Public
  • Debts, Public
  • Interest
Label
That squeezing feeling : the interest burden and public debt stabilization, Xavier Debrun and Tidiane Kinda
Instantiates
Publication
Note
"May 2013."
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Cover; Contents; I. Introduction; II. High Debt Legacy, The Rate of Interest and Optimal Fiscal Policy; III. Empirical Analysis; A. Methodology; B. Interest Payments and Debt: Stylized Facts; Figure; 1. Public Debt to GDP and Interest Expenditure Ratios; Tables; 1. Interest Payments Ratios and Debt Level: Spline Fixed-Effect Regressions; IV. Debt Stabilization: The Role of the Interest Burden; A. The "Augmented" Bohn Regressions; 2. Conventional Fiscal Reaction Function (1980-2010, unbalanced panel); 3. Augmented Fiscal Reaction Function with Interest Payments Ratios
  • B. Borrowing Costs or Debt Overhang?C. Omitted Variables; 4. Augmented Fiscal Reaction Function with Effective Interest Rate; 5. Augmented Fiscal Reaction Function: Control for Global Risk Appetite; 6. Augmented Fiscal Reaction Functions: Control for External Default; D. Debt Targeting; 7. Augmented Fiscal Reaction Functions: Control for Pre-Euro Accession; E. Threshold Analysis; 8. Threshold Effect: Augmented Fiscal Reaction Function; V. Summary and Conclusion; Appendix; Data Sources; Appendix Tables; A.1. Unit Root Tests
  • A.2. Interest Payments Ratios and Debt Level: Non-linearity with Squared TermA 3. Augmented Fiscal Reaction Functions: With time dummies; A 4. Threshold Effect: Augmented Fiscal Reaction Function with time dummies; References
Control code
851157685
Dimensions
unknown
Extent
1 online resource (29 pages)
Form of item
online
Isbn
9781299678118
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other physical details
illustrations
http://library.link/vocab/ext/overdrive/overdriveId
499061
Specific material designation
remote
System control number
(OCoLC)851157685
Label
That squeezing feeling : the interest burden and public debt stabilization, Xavier Debrun and Tidiane Kinda
Publication
Note
"May 2013."
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Cover; Contents; I. Introduction; II. High Debt Legacy, The Rate of Interest and Optimal Fiscal Policy; III. Empirical Analysis; A. Methodology; B. Interest Payments and Debt: Stylized Facts; Figure; 1. Public Debt to GDP and Interest Expenditure Ratios; Tables; 1. Interest Payments Ratios and Debt Level: Spline Fixed-Effect Regressions; IV. Debt Stabilization: The Role of the Interest Burden; A. The "Augmented" Bohn Regressions; 2. Conventional Fiscal Reaction Function (1980-2010, unbalanced panel); 3. Augmented Fiscal Reaction Function with Interest Payments Ratios
  • B. Borrowing Costs or Debt Overhang?C. Omitted Variables; 4. Augmented Fiscal Reaction Function with Effective Interest Rate; 5. Augmented Fiscal Reaction Function: Control for Global Risk Appetite; 6. Augmented Fiscal Reaction Functions: Control for External Default; D. Debt Targeting; 7. Augmented Fiscal Reaction Functions: Control for Pre-Euro Accession; E. Threshold Analysis; 8. Threshold Effect: Augmented Fiscal Reaction Function; V. Summary and Conclusion; Appendix; Data Sources; Appendix Tables; A.1. Unit Root Tests
  • A.2. Interest Payments Ratios and Debt Level: Non-linearity with Squared TermA 3. Augmented Fiscal Reaction Functions: With time dummies; A 4. Threshold Effect: Augmented Fiscal Reaction Function with time dummies; References
Control code
851157685
Dimensions
unknown
Extent
1 online resource (29 pages)
Form of item
online
Isbn
9781299678118
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other physical details
illustrations
http://library.link/vocab/ext/overdrive/overdriveId
499061
Specific material designation
remote
System control number
(OCoLC)851157685

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