The Unexplained Part of Public Debt
This paper shows that budget deficits account for a relatively small fraction of debt growth and that stock-flow reconciliation, which is often considered a residual entity, is one of the key determinants of debt dynamics. After having explained the importance of the stock-flow reconciliation, the paper shows that this residual entity can be partly explained by contingent liabilities and balancesheet effects.
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| Format: | Working Papers biblioteca |
| Language: | English |
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Inter-American Development Bank
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| Subjects: | Economy, WP-554, |
| Online Access: | http://dx.doi.org/10.18235/0010854 https://publications.iadb.org/en/unexplained-part-public-debt |
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