Bulir, Ales; Romero-Barrutieta, Alma; … - International Monetary Fund (IMF) - 2011
The effects of debt relief on incentives to accumulate debt, consume, and invest are an important concern for donors … future debt relief. Simulations of the calibrated model using 1982-2006 Ugandan data suggest that debt-relief episodes are … consumption and less invesment. The long-run debt-to-GDP ratio is estimated to be about twice as high with debt relief than …