Quantitative approaches to fiscal sustainability analysis : a new World Bank tool applied to Turkey / Nina Budina and Sweder van Wijnbergen
- Bib ID:
- 4199822
- Format:
- Book
- Author:
- Budina, Nina
- Online Version:
-
- http://www-wds.worldbank.org/record?docid=000016406%5F20070316121349
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- Full text ;
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- http://www-wds.worldbank.org/record?docid=000016406%5F20070316121349
- Description:
-
- [Washington, D.C.] : World Bank, Poverty Reduction and Economic Management Network, Economic Policy and Debt Dept., [2007]
- 41 p. : ill. ; 28 cm.
- Series:
- Policy research working papers ; 4169.
- Summary:
-
"Fiscal sustainability analysis (FSA) is an important component of macroeconomic analysis. The authors review various quantitative approaches to FSA with a major objective to bring these approaches together and to present a user-friendly tool for FSA that reflects modern developments. They combine a dynamic simulations approach with a simplified version of the steady-state consistency approach. They also incorporate two different methods to deal with uncertainty: user-defined stress tests and stochastic simulations. The tool goes further by evaluating the required fiscal adjustment as a consequence of the stochastic realizations of the exogenous variables. Furthermore, the fiscal sustainability tool incorporates an endogenous debt feedback rule for the primary surplus, a fiscal policy reaction function. Besides outlining the theoretical framework, the authors also present a case study for Turkey."
- Notes:
-
- "March 2007"--Cover.
- Includes bibliographical references (p. 35-37).
- Also available in an electronic version.
- Subject:
- Other authors/contributors:
- Copyright:
-
In Copyright
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Copyright status was determined using the following information:
- Material type:
- Literary Dramatic Musical
- Published status:
- Published
- Publication date:
- 2007
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