A Simple Stochastic Approach to Debt Sustainability Applied to Lebanon / / E. Gardner, Julian Di Giovanni

• Autore: Gardner E
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2008
• Edizione: 1st ed.
• Descrizione fisica: 1 online resource (25 p.)
• Disciplina: 336.34
• Soggetto topico: Debts, Public - Lebanon - Econometric models; Fiscal policy - Lebanon - Econometric models; Banks and Banking; Exports and Imports; Public Finance; Debt; Debt Management; Sovereign Debt; Interest Rates: Determination, Term Structure, and Effects; International Lending and Debt Problems; Fiscal Policy; Public finance & taxation; Finance; International economics; Macroeconomics; Public debt; Debt sustainability analysis; Deposit rates; Fiscal policy; Real interest rates; Debts, Public; Interest rates; Debts, External
• Soggetto geografico: Lebanon Economic conditions Econometric models; Lebanon
• Altri autori: Di GiovanniJulian
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Contents; I. Introduction; II. Lebanon's Debt Dynamics; III. Methodology; Tables; 1. Standard Deviation of Changes in Monthly Real Short-Term Interest Rates, 1998-2007; A. Construction of the Variance-Covariance Matrix of Shocks; B. Monte Carlo Simulation; IV. Simulation Results; A. Summary Statistics and Simulation Distributions; 2. Standard Deviation of Shocks, 1998-2007; 3. Correlation Matrix of Shocks; Figures; 1a. Distribution of Simulated Values of Real GDP Growth Rate (g): 2008-12; 1b. Distribution of Simulated Values of Effective Interest Rate (r): Temporary Shocks, 2008 -12 ; 1c. Distribution of Simulated Values of Effective Interest Rate (r): Permanent Shocks, 2008-121d. Distribution of Simulated Values of Debt-to-GDP Ratio (d): Temporary Shocks, 2008-12; 1e. Distribution of Simulated Values of Debt-to-GDP Ratio (d): Permanent Shocks, 2008-12; B. Fan Charts; 2a. Scenario's Debt-to-GDP Ratio Fan Chart: Temporary Shocks, 2007-12; V. Conclusion; 2b. Scenario's Debt-to-GDP Ratio Fan Chart: Permanent Shocks, 2007-12; Appendix; References
• Sommario/riassunto: This paper applies a simple probabilistic approach to debt sustainability analysis to the case of Lebanon. The paper derives "fan charts" to depict the probability distribution of the government debt to GDP ratio under a medium-term adjustment scenario, as a result of shocks to GDP growth and interest rates. The distribution of shocks is derived from the past shocks to these variables and the related variance covariance. Because we are interested in assessing the sustainability of a particular policy scenario, we do not consider independent fiscal policy shocks or the endogenous policy response to shocks.
• Titolo autorizzato: A Simple Stochastic Approach to Debt Sustainability Applied to Lebanon
• ISBN: 1-4623-1140-7; 1-4527-0065-6; 1-4518-6958-4; 1-282-84052-5; 9786612840524
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910813694903321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2008/097