On the Probabilistic Approach to Fiscal Sustainability: Structural Breaks and Non-normality
This paper modifies several assumptions in the probabilistic approach to fiscal sustainability proposed by Celasun, Debrun, and Ostry (2007). First, we allow for structural breaks in the vector autoregression model for the macroeconomic variables. Second, in the Monte-Carlo simulations, we draw dire...
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| Language: | EN |
| Published: |
2012
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10986/5746 |