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This paper examines the impact of public debt on fiscal balance. This study uses the standard debt equation in a fiscal reaction and impulse response functions framework to assess the trajectory of public debt and its sustainability within the Sub-Sahara region from 1980-2017. From the...
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This article surveys the literature on sovereign debt sustainability from its origins in the mid-1980s to the present, focusing on four debates. First, the shift from an "accounting based" view of debt sustainability, evaluated using government borrowing rates, to a "model based" view which uses...
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