The Unexplained Part of Public Debt

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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Year of publication:	2006-03
Authors:	Jaimovich, Dany ; Panizza, Ugo ; Campos, Camil F.S.
Institutions:	Inter-American Development Bank
Subject:	Economics \| WP-554

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Extent:	application/pdf
Series:	IDB Publications (Working Papers).
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IDB Working Paper Series Number 6705
Source:	RePEc - Research Papers in Economics

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