05256oam 22012734 450 991097514990332120250426110657.097866138294819781462382101146238210X9781451991383145199138X9781283517034128351703597814519086331451908636(CKB)3360000000443874(EBL)3014478(SSID)ssj0000943021(PQKBManifestationID)11593656(PQKBTitleCode)TC0000943021(PQKBWorkID)10975307(PQKB)10896271(OCoLC)694141153(IMF)WPIEE2006067(MiAaPQ)EBC3014478(IMF)WPIEA2006067WPIEA2006067(EXLCZ)99336000000044387420020129d2006 uf 0engur|n|---|||||txtccrPrimary Surplus Behavior and Risks to Fiscal Sustainability in Emerging Market Countries : A "Fan-Chart" Approach /Oya Celasun, Xavier Debrun, Jonathan Ostry1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (54 p.)IMF Working Papers"March 2006."9781451863277 1451863276 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. DEBT SUSTAINABILITY ANALYSIS AND RISK""; ""III. DEBT DYNAMICS AND THE CONDUCT OF FISCAL POLICY""; ""IV. RISKS TO DEBT SUSTAINABILITY IN FIVE EMERGING MARKET ECONOMIES""; ""V. CONCLUSION""; ""Appendix""; ""REFERENCES""This paper proposes a probabilistic approach to public debt sustainability analysis (DSA) using "fan charts." These depict the magnitude of risks-upside and downside-surrounding public debt projections as a result of uncertain economic conditions and policies. We propose a simulation algorithm for the path of public debt under realistic shock configurations, combining pure economic disturbances (to growth, interest rates, and exchange rates), the endogenous policy response to these, and the possible shocks arising from fiscal policy itself. The paper emphasizes the role of fiscal behavior, as well as the structure of disturbances facing the economy and due to fiscal policy, in shaping the risk profile of public debt. Fan charts for debt are derived from the "marriage" between the pattern of shocks on the one hand and the endogenous response of fiscal policy on the other. Applications to Argentina, Brazil, Mexico, South Africa, and Turkey are used to illustrate the approach and its limitations.IMF Working Papers; Working Paper ;No. 2006/067Debts, PublicEconometric modelsFiscal policyEconometric modelsDebt ManagementimfDebt sustainability analysisimfDebtimfDebts, ExternalimfDebts, PublicimfEconomic theoryimfExports and ImportsimfExternal debtimfFiscal PolicyimfFiscal policyimfFiscal stanceimfInternational economicsimfInternational Lending and Debt ProblemsimfMacroeconomicsimfMacroeconomics: ProductionimfNational Deficit SurplusimfOutput gapimfProduction and Operations ManagementimfProductionimfPublic debtimfPublic finance & taxationimfPublic FinanceimfSimulation MethodsimfSovereign DebtimfTurkeyimfDebts, PublicEconometric models.Fiscal policyEconometric models.Debt ManagementDebt sustainability analysisDebtDebts, ExternalDebts, PublicEconomic theoryExports and ImportsExternal debtFiscal PolicyFiscal policyFiscal stanceInternational economicsInternational Lending and Debt ProblemsMacroeconomicsMacroeconomics: ProductionNational Deficit SurplusOutput gapProduction and Operations ManagementProductionPublic debtPublic finance & taxationPublic FinanceSimulation MethodsSovereign DebtCelasun Oya1816281Debrun Xavier1813873Ostry Jonathan1436213International Monetary Fund.Research and Fiscal Affairs Dept.DcWaIMFBOOK9910975149903321Primary Surplus Behavior and Risks to Fiscal Sustainability in Emerging Market Countries4372352UNINA01576nam0 22003251i 450 VAN0003385920240806100353.53388-14-11004-220050310d2004 |0itac50 baitaIT|||| |||||Contratti d'impresa e restrizioni verticaliagenzia, franchising, commissione, mediazione, spedizionecon il commento alla L. 6 maggio 2004, n. 129 sul franchisinga cura di Rolandino Guidotti e Nicola Soldatiintroduzione di Roberto PardolesiMilano : Giuffrè2004XVII492 p. ; 24 cm + 1 CD-ROMIn testa al front. e in cop.: ISDACI, Istituto per lo studio e la diffusione dell'arbitrato e del diritto commerciale internazionale.001VAN000338602001 Strumenti giuridici per l'impresa210 MilanoGiuffrè2004-.1Contratto di agenziaVANC000396FIFranchisingVANC001593FIMilanoVANL000284GuidottiRolandinoVANV028440PardolesiRobertoVANV000285SoldatiNicola1967- VANV002638Giuffrè <editore>VANV109181650ITSOL20251114RICABIBLIOTECA DEL DIPARTIMENTO DI GIURISPRUDENZAIT-CE0105VAN00VAN00033859BIBLIOTECA DEL DIPARTIMENTO DI GIURISPRUDENZA00CONS VI.Ea.111 00 27036 20050310 Contratti d'impresa e restrizioni verticali746657UNICAMPANIA