Fiscal sustainability analysis (FSA) is an important component of macroeconomic analysis for many developing countries. To further enhance understanding of fiscal policy and the constraints faced by policymakers, the authors develop a toolkit for FSA in middle-income countries which builds on previous work in this area and on new developments in dealing with uncertainty. The FSA toolkit includes an Excel-based FSA tool and a technical manual accompanying it. The FSA tool is standardized and simple, but at the same time flexible enough to allow for user-defined country-specifics. This manual provides step-by-step technical instructions for running the FSA tool and includes mathematical appendices and a glossary.
Details
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Author
Bandiera,Luca, Budina,Nina Todorova, Klijn,Michel, Van Wijnbergen,Sweder
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Document Date
2007/03/01
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Document Type
Policy Research Working Paper
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Report Number
WPS4170
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Volume No
1
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Total Volume(s)
1
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Country
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Region
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Disclosure Date
2010/07/01
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Disclosure Status
Disclosed
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Doc Name
The "how to" of fiscal sustainability : a technical manual for using the fiscal sustainability tool
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Keywords
real interest rate;domestic debt;public debt;oil revenue;primary deficit;stochastic simulation;net public debt;projection period;nominal interest rate;deficit reduction;primary balance;seigniorage revenue;standard deviation;steady state;domestic public debt;real domestic interest rate;domestic real interest rate;real exchange rate depreciation;alternative scenarios;external public debt;foreign real interest rate;debt decomposition;net debt;real growth rate;fiscal reaction function;nominal exchange rate depreciation;public sector net debt;bilateral real exchange rate;financing need;oil stabilization fund;public domestic debt;debt dynamic;reference price;exchange rate revaluation;public sector debt;net foreign asset;real gdp;fiscal policy;Exchange Rates;Fiscal policies;inflation rate;baseline projection;total public debt;fiscal sustainability analysis;net oil revenue;public debt dynamics;domestic debt stock;dynamic consistency;consumer price index;rate of change;web service;import data;contingent liabilities;baseline scenario;contingent liability;maturity structure;random variable;privatization receipt;dialog box;public foreign debt;quality of policy;external debt management;average exchange rate;currency in circulation;accumulation of assets;public debt stock;external debt stock;foreign currency debt;unit of measurement;outstanding public debt;fiscal policy outcomes;gross public debt;debt sustainability analysis;money demand function;emerging market country;short term debt;foreign interest rate;fiscal policy response;public sector deficit;stock of debt;average interest rate;real depreciation;monetary data;market price;fiscal rule;
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Citation
Bandiera,Luca Budina,Nina Todorova Klijn,Michel Van Wijnbergen,Sweder
The "how to" of fiscal sustainability : a technical manual for using the fiscal sustainability tool (English). Policy, Research working paper ; no. WPS 4170 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/631611468313537994/The-how-to-of-fiscal-sustainability-a-technical-manual-for-using-the-fiscal-sustainability-tool