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The Unexplained Part of Public Debt

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Author Info
Dany Jaimovich
Ugo Panizza
Camil F.S. Campos

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Abstract

This paper shows that budget deficits account for a relatively small fraction of debt growth and that stock-flow reconciliation, which is often considered a residual entity, is one of the key determinants of debt dynamics. After having explained the importance of the stock-flow reconciliation, the paper shows that this residual entity can be partly explained by contingent liabilities and balancesheet effects.

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File URL: http://www.iadb.org/res/includes/pub_hits.cfm?pub_id=WP-554&pub_file_name=pubWP-554.pdf
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Publisher Info
Paper provided by Inter-American Development Bank, Research Department in its series RES Working Papers with number 4449.

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Date of creation: Mar 2006
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Handle: RePEc:idb:wpaper:4449

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  1. Yilmaz Akyüz, 2007. "Debt Sustainability in Emerging Markets: A Critical Appraisal," Working Papers 61, United Nations, Department of Economics and Social Affairs. [Downloadable!]
  2. Dany Jaimovich & Ugo Panizza, 2006. "Public Debt around the World: A New Dataset of Central Government Debt," RES Working Papers 4461, Inter-American Development Bank, Research Department. [Downloadable!]
  3. Laura dos Reis & Paolo Manasse & Ugo Panizza, 2007. "Targeting the Structural Balance," RES Working Papers 4507, Inter-American Development Bank, Research Department. [Downloadable!]
  4. Dany Jaimovich & Ugo Panizza, 2006. "La deuda pública en el mundo," RES Working Papers 4462, Inter-American Development Bank, Research Department. [Downloadable!]
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This page was last updated on 2009-12-11.

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