PUBLICATIONS | Policy Briefs
2021
22 October 2021
Xavier Timbeau, Elliot Aurissergues, Eric Heyer
We propose a definition of public debt sustainability based on the possibility of conducting a fiscal effort or giving support to a macroeconomic path that makes it possible to reach a public debt target over a given horizon.
The concepts of a fiscal effort and a macroeconomic trajectory are both speculative, as they rely on the anticipation of unknown futures...
09 March 2021
Xavier Ragot
The purpose of this Policy brief is to present an estimate of the fiscal space for a new stimulus plan in France that takes fully into account the impact of the low interest rate environment.
Negative rates should lead to a different way to measure the public debt, a method that complements the Maastricht measurement...