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Quantitative Approaches To Fiscal Sustainability Analysis : A New World Bank Tool Applied To Turkey / Budina, Nina

Von: Mitwirkende(r): Resource type: Ressourcentyp: Buch (Online)Buch (Online)Sprache: Englisch Verlag: Washington, D.C : The World Bank, 2007Beschreibung: Online-Ressource (1 online resource (41 p.))Schlagwörter: Andere physische Formen: Budina, Nina: Quantitative Approaches To Fiscal Sustainability Analysis Online-Ressourcen: Zusammenfassung: 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 TurkeyPPN: PPN: 724223738Package identifier: Produktsigel: GBV-wba | ZDB-1-WBA | ZDB-110-WBL
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