Fiscal Fatigue, Fiscal Space and Debt Sustainability in Advanced Economies
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How high can public debt rise without compromising fiscal solvency? We answer this question using a stochastic ability-to-pay model of sovereign default in which risk-neutral investors lend to a government that displays "fiscal fatigue," because its ability to increase primary balances cannot keep
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美国国家经济研究局创建时间：
2011-02-01
