The asymmetric behavior of the U.S. public debt

Detalhes bibliográficos
Autor(a) principal: Lima, Luiz Renato Regis de Oliveira
Data de Publicação: 2005
Outros Autores: Sampaio, Raquel Menezes Bezerra
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/841
Resumo: In this paper we re-analyze the question of the U.S. public debt sustainability by using a quantile autoregression model. This modeling allows for testing whether the behavior of U.S. public debt is asymmetric or not. Our results provide evidence of a band of sustainability. Outside this band, the U.S. public debt is unsustainable. We also find fiscal policy to be adequate in the sense that occasional episodes in which the public debt moves out of the band do not pose a threat to long run sustainability.
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spelling Lima, Luiz Renato Regis de OliveiraSampaio, Raquel Menezes BezerraEscolas::EPGEFGV2008-05-13T15:36:51Z2008-05-13T15:36:51Z2005-07-010104-8910http://hdl.handle.net/10438/841In this paper we re-analyze the question of the U.S. public debt sustainability by using a quantile autoregression model. This modeling allows for testing whether the behavior of U.S. public debt is asymmetric or not. Our results provide evidence of a band of sustainability. Outside this band, the U.S. public debt is unsustainable. We also find fiscal policy to be adequate in the sense that occasional episodes in which the public debt moves out of the band do not pose a threat to long run sustainability.engEscola de Pós-Graduação em Economia da FGVEnsaios Econômicos;593Fiscal policyLong-run sustainabilityQuantile autoregressionEconomiaEconomiaThe asymmetric behavior of the U.S. public debtinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlereponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessORIGINAL1862.pdfapplication/pdf380233https://repositorio.fgv.br/bitstreams/61730c1e-67e6-4ef8-ae45-e0cea369b643/downloadcc945880529fb7975cd821386942a3c3MD51TEXT1862.pdf.txt1862.pdf.txtExtracted texttext/plain70827https://repositorio.fgv.br/bitstreams/5ea5abe3-ece0-42c3-b83d-04a22ef3cad5/download90a51db4625bd23a7a65756a1c9172e5MD56THUMBNAIL1862.pdf.jpg1862.pdf.jpgGenerated Thumbnailimage/jpeg3221https://repositorio.fgv.br/bitstreams/70632562-0363-4757-a181-e1e5393093dd/download4741e4aac2683d3d773cfc1082620a57MD5710438/8412023-11-09 21:34:55.714open.accessoai:repositorio.fgv.br:10438/841https://repositorio.fgv.brRepositório InstitucionalPRIhttp://bibliotecadigital.fgv.br/dspace-oai/requestopendoar:39742023-11-09T21:34:55Repositório Institucional do FGV (FGV Repositório Digital) - Fundação Getulio Vargas (FGV)false
dc.title.eng.fl_str_mv The asymmetric behavior of the U.S. public debt
title The asymmetric behavior of the U.S. public debt
spellingShingle The asymmetric behavior of the U.S. public debt
Lima, Luiz Renato Regis de Oliveira
Fiscal policy
Long-run sustainability
Quantile autoregression
Economia
Economia
title_short The asymmetric behavior of the U.S. public debt
title_full The asymmetric behavior of the U.S. public debt
title_fullStr The asymmetric behavior of the U.S. public debt
title_full_unstemmed The asymmetric behavior of the U.S. public debt
title_sort The asymmetric behavior of the U.S. public debt
author Lima, Luiz Renato Regis de Oliveira
author_facet Lima, Luiz Renato Regis de Oliveira
Sampaio, Raquel Menezes Bezerra
author_role author
author2 Sampaio, Raquel Menezes Bezerra
author2_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EPGE
dc.contributor.affiliation.none.fl_str_mv FGV
dc.contributor.author.fl_str_mv Lima, Luiz Renato Regis de Oliveira
Sampaio, Raquel Menezes Bezerra
dc.subject.por.fl_str_mv Fiscal policy
Long-run sustainability
Quantile autoregression
topic Fiscal policy
Long-run sustainability
Quantile autoregression
Economia
Economia
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Economia
description In this paper we re-analyze the question of the U.S. public debt sustainability by using a quantile autoregression model. This modeling allows for testing whether the behavior of U.S. public debt is asymmetric or not. Our results provide evidence of a band of sustainability. Outside this band, the U.S. public debt is unsustainable. We also find fiscal policy to be adequate in the sense that occasional episodes in which the public debt moves out of the band do not pose a threat to long run sustainability.
publishDate 2005
dc.date.issued.fl_str_mv 2005-07-01
dc.date.accessioned.fl_str_mv 2008-05-13T15:36:51Z
dc.date.available.fl_str_mv 2008-05-13T15:36:51Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/841
dc.identifier.issn.none.fl_str_mv 0104-8910
identifier_str_mv 0104-8910
url http://hdl.handle.net/10438/841
dc.language.iso.fl_str_mv eng
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dc.relation.ispartofseries.por.fl_str_mv Ensaios Econômicos;593
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
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dc.publisher.none.fl_str_mv Escola de Pós-Graduação em Economia da FGV
publisher.none.fl_str_mv Escola de Pós-Graduação em Economia da FGV
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