Fiscal Space (Ghosh et al.)

Fiscal fatigue, fiscal space and debt sustainability in advanced economies by Atish R. Ghosh, Jun I. Kim, Enrique G. Mendoza, Jonathan D. Ostry and Mahvash S. Qureshi published by NBER (2/2011). “Using data for 23 advanced economies over 1970-2007, we find evidence of a fiscal reaction function with these feature, and use it to compute ‘fiscal space’, defined as the difference between projected debt rations and debt limits.”

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