Sustainability of public debt: a theoretical and empirical investigation
At the beginning of the transition period, the public debt in Romania was insignificant. However, during the following years, the accumulating process accelerated. Although the indebtedness degree continues to be smaller than registered levels in other European countries, more dangerous could be its accelerating trend in conditions of some not so very high-performing macroeconomic policy management. The present study attempts to answer certain problems related to the governing mechanism of the public debt accumulation. Particularly, it examines: a) some significant implications of the public sector deficits on the dynamics of the main macroeconomic indicators; b) certain factors having impact on sustainability degree; and c) possibilities for setting up fundamental parameters and a time horizon to stop the debt accumulation process. Certain plausible hypotheses will be selected and some likely evolutions will be simulated.
|Date of creation:||Jan 2000|
|Date of revision:|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- David W. Wilcox, 1987.
"The substainability of government deficits: implications of the present- value borrowing constraint,"
Working Paper Series / Economic Activity Section
77, Board of Governors of the Federal Reserve System (U.S.).
- Wilcox, David W, 1989. "The Sustainability of Government Deficits: Implications of the Present-Value Borrowing Constraint," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 21(3), pages 291-306, August.
- Eisner, Robert, 1989. "Budget Deficits: Rhetoric and Reality," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 73-93, Spring.
- Olivier Jean Blanchard, 1990. "Suggestions for a New Set of Fiscal Indicators," OECD Economics Department Working Papers 79, OECD Publishing.
- Barro, Robert J, 1989.
"The Ricardian Approach to Budget Deficits,"
Journal of Economic Perspectives,
American Economic Association, vol. 3(2), pages 37-54, Spring.
- Nigel A Chalk, 1998. "Fiscal Sustainability with Non-Renewable Resources," IMF Working Papers 98/26, International Monetary Fund.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:14364. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If references are entirely missing, you can add them using this form.