01628cas a2200253 a 4500 AALejournalIMF002494 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451856569 1018-5941 BD-DhAAL BD-DhAAL Croce, Enzo. Assessing Fiscal Sustainability : A Cross-Country Comparison / Enzo Croce, V. Juan-Ramon. Washington, D.C. : International Monetary Fund, 2003. 1 online resource (33 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students To monitor fiscal sustainability, this paper proposes a recursive algorithm derived from the law of motion of the debt-to-GDP ratio, subject to a government reaction function that links convergence to the targeted debt ratio with primary fiscal surpluses. Based on quarterly estimates of this algorithm in the 1990s, 12 developed and developing countries are ranked according to their degree of sustainability. For a number of countries, the paper finds evidence of causality between the fiscal policy stance and growth-adjusted real interest rates. Mode of access: Internet Juan-Ramon, V. IMF Working Papers; Working Paper ; No. 2003/145 Full text available on IMF http://elibrary.imf.org/view/journals/001/2003/145/001.2003.issue-145-en.xml IMF e-Library