In this paper, we study the drivers of public debt surges across 172 countries from 1980-2021. We focus on the role of … discrepancies between the annual change in public debt and the budget deficit, referred to as stock-flow adjustments (SFA). The … analysis employs survival methods to model the effect of SFA and other macroeconomic factors on the hazard rate for debt spike …

This paper assesses debt sustainability in Guatemala. Debt stability has been achieved at very low expenditure levels … hypothesis of possible institutional arrangements that have allowed for the containment of fiscal deficits for over 20 years. The …

impact on public debt and the impact on other macroeconomic variables (unemployment and growth). The main results are the … have been used as a means of reducing government deficit in Spain, Greece, Italy and Portugal. Their results indicate that … find that there exists a statistically significant and negative relation between privatization receipts and public debt for …

deficits, passive monetary policy, and constraints on debt financing. The transition to the low-in inflation period (1995 …. This last period coincided with severe balance of payments problems and economic stagnation that followed the external debt …

Many countries in the Caribbean have been grappling with persistent fiscal imbalances and rising debt levels. The … average debt to GDP ratio in the Caribbean in 2017 was 76.6 percent, higher than the negative debt-growth threshold of 60 … increase in the debt ratio. …

and we develop a debt sustainability analysis model with both channels using a country ratings proxy of political risk …. Political risk also affects a sovereign's willingness to pay and it can render debt unsustainable, triggered by changes in the … large-scale quantitative easing programmes. The political effects on debt are especially large for high-debt countries …

This paper explores the effect of inflation supply and demand shocks on government debt. It identifies the shocks using … regressions and local projections suggest that supply shocks lead to persistent increases in government debt, while demand shocks … result in long-lasting declines. Furthermore, high debt levels increase economic vulnerability, amplifying the impacts of …

During the pandemic, public debt in Latin America and the Caribbean rose to more than 70 percent of GDP, and countries … are now attempting to lower debt ratios. We analyze past debt reduction episodes and find inflation and the real interest … rate were the most frequent main drivers, while higher growth, fiscal consolidation and debt restructuring were relatively …