Working Paper 2/2014 Spanish Public Debt Sustainability Analysis
This note develops an overarching debt sustainability analysis (DSA) framework, encompassing three of its main dimensions: (i) a traditional (deterministic) sustainability exercise, based on a simple accounting application involving the debt accumulation equation; (ii) an assessment of the realism of the assumptions underlying the deterministic debt projections; and (iii) a stochastic exercise aimed at understanding … Read more