An application of conventional sovereign debt sustainability analysis to the current debt crises

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Abstract

The developing international debt crisis has unleashed unanticipated fears that more governments in some advanced economies may default on their sovereign debt and trigger a global financial tsunami. This article provides a primer on sovereign debt sustainability and interprets the recent experience of advanced economies in the light of a uniform approach that allows an answer to this question: What are the main factors that contribute to making a country s debt sustainable or unsustainable? (JEL E6, H12, H6).
Original languageEnglish
Pages (from-to)197 - 220
Number of pages24
JournalFederal Reserve Bank of St. Louis Review
Volume94
Issue number3
Publication statusPublished - 2012
Externally publishedYes

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