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Assessing Sustainability of the Irish Public Debt

  • Kumar, Saten
  • Paradiso, Antonio

This paper utilizes a small-scale econometric model to study the dynamics of the Irish debt-to-GDP ratio. The role of world GDP growth, domestic GDP growth, real effective exchange rate, interest rate and primary balance is analyzed in the debt dynamics. We find that the Irish economy will recover to its normal path by 2015. Policy interventions for higher primary balance and output growth, and the external positive scenarios for variables such as the world GDP growth, rate of interest and real effective exchange rate are desirable to help further reduce the debt path.

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File URL: http://mpra.ub.uni-muenchen.de/35295/1/MPRA_paper_35295.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 35295.

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Date of creation: 05 Dec 2011
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Handle: RePEc:pra:mprapa:35295
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Web page: http://mpra.ub.uni-muenchen.de

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  1. Hofman, Bert & Reisen, Helmut, 1990. "Debt overhang, liquidity constraints and adjustment incentives," Kiel Working Papers 432, Kiel Institute for the World Economy.
  2. Paolo Casadio & Antonio Paradiso & B. Bhaskara Rao, 2012. "The dynamics of Italian public debt: alternative paths for fiscal consolidation," Applied Economics Letters, Taylor & Francis Journals, vol. 19(7), pages 635-639, May.
  3. Favero, Carlo A. & Marcellino, Massimiliano, 2005. "Modelling and Forecasting Fiscal Variables for the euro Area," CEPR Discussion Papers 5294, C.E.P.R. Discussion Papers.
  4. Andrews, Rick L, 1994. "Forecasting Performance of Structural Time Series Models," Journal of Business & Economic Statistics, American Statistical Association, vol. 12(1), pages 129-33, January.
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