The asymmetric behavior of the U.S. public debt

dc.contributorEscolas::EPGE
dc.contributorFGV
dc.creatorLima, Luiz Renato Regis de Oliveira
dc.creatorSampaio, Raquel Menezes Bezerra
dc.date.accessioned2008-05-13T15:36:51Z
dc.date.accessioned2019-05-22T14:20:24Z
dc.date.available2008-05-13T15:36:51Z
dc.date.available2019-05-22T14:20:24Z
dc.date.created2008-05-13T15:36:51Z
dc.date.issued2005-07-01
dc.identifier0104-8910
dc.identifierhttp://hdl.handle.net/10438/841
dc.identifier.urihttp://repositorioslatinoamericanos.uchile.cl/handle/2250/2692919
dc.description.abstractIn 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.
dc.languageeng
dc.publisherEscola de Pós-Graduação em Economia da FGV
dc.relationEnsaios Econômicos;593
dc.subjectFiscal policy
dc.subjectLong-run sustainability
dc.subjectQuantile autoregression
dc.titleThe asymmetric behavior of the U.S. public debt
dc.typeDocumentos de trabajo


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