Assessing debt sustainability in emerging market economies using stochastic simulation methods:
"The authors apply stochastic simulation methods to assess debt sustainability in emerging market economies and provide probability measures for projections of the external and public debt burden over the medium term. The vulnerability of public debt to adverse shocks is determined by a number...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C]
World Bank
[2006]
|
| Schriftenreihe: | Policy research working paper
3821 |
| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| Zusammenfassung: | "The authors apply stochastic simulation methods to assess debt sustainability in emerging market economies and provide probability measures for projections of the external and public debt burden over the medium term. The vulnerability of public debt to adverse shocks is determined by a number of interrelated factors, including the volatility of output, financial fragility, the endogenous response of the risk premium, and sudden stops in private capital flows. The vulnerability of external debt is sensitive to the determination of the exchange rate and to the pricing of traded goods. The authors show that fiscal policy can act in a preemptive manner to prevent the debt burden from rising significantly over the medium term. This requires flexibility in fiscal planning, which many emerging market economies lack. Emerging market economies therefore face a difficult tradeoff between managing the risk of a debt crisis and pursuing other important fiscal policy objectives. "--World Bank web site |
| Beschreibung: | Includes bibliographical references Title from PDF file as viewed on 1/17/2006 |
| Beschreibung: | 1 Online-Ressource |
Internformat
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| 245 | 1 | 0 | |a Assessing debt sustainability in emerging market economies using stochastic simulation methods |c Philippe Karam, Doug Hostland |
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| 500 | |a Includes bibliographical references | ||
| 500 | |a Title from PDF file as viewed on 1/17/2006 | ||
| 520 | 3 | |a "The authors apply stochastic simulation methods to assess debt sustainability in emerging market economies and provide probability measures for projections of the external and public debt burden over the medium term. The vulnerability of public debt to adverse shocks is determined by a number of interrelated factors, including the volatility of output, financial fragility, the endogenous response of the risk premium, and sudden stops in private capital flows. The vulnerability of external debt is sensitive to the determination of the exchange rate and to the pricing of traded goods. The authors show that fiscal policy can act in a preemptive manner to prevent the debt burden from rising significantly over the medium term. This requires flexibility in fiscal planning, which many emerging market economies lack. Emerging market economies therefore face a difficult tradeoff between managing the risk of a debt crisis and pursuing other important fiscal policy objectives. "--World Bank web site | |
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| 650 | 4 | |a Stochastic analysis | |
| 700 | 1 | |a Hostland, Doug |e Sonstige |4 oth | |
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| 776 | 0 | 8 | |i Karam, Philippe D |a Assessing debt sustainability in emerging market economies using stochastic simulation methods |
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Datensatz im Suchindex
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| author | Karam, Philippe D. |
| author_facet | Karam, Philippe D. |
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| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T22:27:47Z |
| indexdate | 2024-07-10T09:54:31Z |
| institution | BVB |
| language | English |
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| publishDate | 2006 |
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| publisher | World Bank |
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| series2 | Policy research working paper |
| spelling | Karam, Philippe D. Verfasser aut Assessing debt sustainability in emerging market economies using stochastic simulation methods Philippe Karam, Doug Hostland [Washington, D.C] World Bank [2006] 1 Online-Ressource txt rdacontent c rdamedia cr rdacarrier Policy research working paper 3821 Includes bibliographical references Title from PDF file as viewed on 1/17/2006 "The authors apply stochastic simulation methods to assess debt sustainability in emerging market economies and provide probability measures for projections of the external and public debt burden over the medium term. The vulnerability of public debt to adverse shocks is determined by a number of interrelated factors, including the volatility of output, financial fragility, the endogenous response of the risk premium, and sudden stops in private capital flows. The vulnerability of external debt is sensitive to the determination of the exchange rate and to the pricing of traded goods. The authors show that fiscal policy can act in a preemptive manner to prevent the debt burden from rising significantly over the medium term. This requires flexibility in fiscal planning, which many emerging market economies lack. Emerging market economies therefore face a difficult tradeoff between managing the risk of a debt crisis and pursuing other important fiscal policy objectives. "--World Bank web site Online-Ausg Also available in print Capital movements Developing countries Debts, External Developing countries Fiscal policy Developing countries Stochastic analysis Hostland, Doug Sonstige oth World Bank Sonstige oth Karam, Philippe D Assessing debt sustainability in emerging market economies using stochastic simulation methods http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3821 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Karam, Philippe D. Assessing debt sustainability in emerging market economies using stochastic simulation methods Capital movements Developing countries Debts, External Developing countries Fiscal policy Developing countries Stochastic analysis |
| title | Assessing debt sustainability in emerging market economies using stochastic simulation methods |
| title_auth | Assessing debt sustainability in emerging market economies using stochastic simulation methods |
| title_exact_search | Assessing debt sustainability in emerging market economies using stochastic simulation methods |
| title_exact_search_txtP | Assessing debt sustainability in emerging market economies using stochastic simulation methods |
| title_full | Assessing debt sustainability in emerging market economies using stochastic simulation methods Philippe Karam, Doug Hostland |
| title_fullStr | Assessing debt sustainability in emerging market economies using stochastic simulation methods Philippe Karam, Doug Hostland |
| title_full_unstemmed | Assessing debt sustainability in emerging market economies using stochastic simulation methods Philippe Karam, Doug Hostland |
| title_short | Assessing debt sustainability in emerging market economies using stochastic simulation methods |
| title_sort | assessing debt sustainability in emerging market economies using stochastic simulation methods |
| topic | Capital movements Developing countries Debts, External Developing countries Fiscal policy Developing countries Stochastic analysis |
| topic_facet | Capital movements Developing countries Debts, External Developing countries Fiscal policy Developing countries Stochastic analysis |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3821 |
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