Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/88085
Authors: 
Jaimovich, Dany
Panizza, Ugo
Campos, Camil F.S.
Year of Publication: 
2006
Series/Report no.: 
Working Paper, Inter-American Development Bank, Research Department 554
Abstract: 
This paper shows that budget deficits account for a relatively small fraction of debt growth and that stock-flow reconciliation, which is often considered a residual entity, is one of the key determinants of debt dynamics. After having explained the importance of the stock-flow reconciliation, the paper shows that this residual entity can be partly explained by contingent liabilities and balancesheet effects.
Document Type: 
Working Paper

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