Debt Sustainability Assessment: Mission Impossible

Charles Wyplosz

Abstract


Debt sustainability is a vexing issue. Its importance is immediately obvious but it escapes any easy definition. This situation is not unheard of in economics; price stability and full employment are examples of other crucially important policy objectives that cannot be simply defined. Yet, while price stability or full employment can both be measured with a reasonable degree of precision, debt sustainability cannot even be measured directly.

Keywords


public debts, budget balance, sustainability

Full Text:

PDF


DOI: http://dx.doi.org/10.5202/rei.v2i3.42



E-ISSN 2038 1379 -  2009-2022 University of Perugia