• Abiad, A. and Ostry, J.D. (2005). ‘Primary surpluses and sustainable debt levels in emerging market countries’, Policy Discussion Paper No. 05/6, International Monetary Fund.
  • Aguiar, M. and Gopinath, G. (2006). ‘Defaultable debt, Interest rates and the current account’, Journal of International Economics, vol. 69(1), pp. 6483.
  • Alesina, A. and Ardagna, S. (2010). ‘Large Changes in fiscal policy: taxes versus spending’, in (J.R. Brown, ed.), Tax Policy and the Economy, vol. 24, pp. 3568, Chicago, IL: University of Chicago Press.
  • Arellano, C. (2008). ‘Default risk and income fluctuations in emerging economies’, American Economic Review, vol. 98(3), pp. 690712.
  • Benjamin, D. and Wright, M. (2009). ‘Recovery before redemption? A theory of delays in sovereign debt renegotiations’, Working Paper 15/2009, Center for Applied Macroeconomic Analysis.
  • Bohn, H. (1998). ‘The behaviour of US public debt and deficits’, Quarterly Journal Economics, vol. 113(3), pp. 94963.
  • Bohn, H. (2007). ‘Are stationarity and cointegration restrictions really necessary for the intertemporal Budget Constraint?’, Journal of Monetary Economics, vol. 54(7), pp. 183747.
  • Bohn, H. (2008). ‘The sustainability of fiscal policy in the United States’, in (R. Neck and J.E. Sturm, eds.), Sustainability of Public Debt, pp. 1549. Cambridge, MA: MIT Press.
  • Checherita, C. and Rother, P. (2010). ‘The impact of high and growing government debt on economic growth: an empirical investigation for the euro area’, Working Paper 1237, European Central Bank.
  • Chatterjee, S. and Eyigungor, B. (2011). ‘Maturity, indebtedness, and default risk’, Working Paper 11-33, Federal Reserve Bank of Philadelphia.
  • Cottarelli, C., Forni, L., Gottschalk, J. and Mauro, P. (2010). ‘Default in today's advanced economies: unnecessary, undesirable, and unlikely’, IMF Staff Position Note SPN/10/12, International Monetary Fund.
  • Eaton, J. and Fernandez, R. (1995). ‘Sovereign debt’, Working Paper 5131, National Bureau of Economic Research.
  • Flood, R. and Marion, N.P. (2006). ‘Getting shut out of the international capital markets: it doesn't take much’, Working Paper WP/06/144, International Monetary Fund.
  • Galí, J. and Perotti, R. (2003). ‘Fiscal policy and monetary integration in Europe’, Economic Policy, vol. 18(37), pp. 53372.
    Direct Link:
  • IMF (2010). World Economic Outlook: October 2010, Washington, DC: International Monetary Fund.
  • Mendoza, E.G. and Ostry, J.D. (2008). ‘International evidence on fiscal solvency: is fiscal policy responsible?’, Journal of Monetary Economics, vol. 55(6), pp. 108193.
  • Panizza, U. and Presbitero, A.F. (2012). ‘Public debt and economic growth: is there a causal effect?’, Working Paper 168, Institute of Public Policy and Public Choice.
  • Reinhart, C. and Rogoff, K. (2010). ‘Growth in a time of debt’, American Economic Review, vol. 100(2), pp. 5738.
  • Roubini, N. and Sachs, J. (1988). ‘Political and economic determinants of budget deficits in the industrial democracies’, Working Paper 2682, National Bureau of Economic Research.
  • Rzonca, A. and Cizkowicz, P. (2005). ‘Non-Keynesian effects of fiscal contraction in new member states’, Working Paper no. 519, European Central Bank.
  • Schclarek, A. (2004). ‘Debt and economic growth in developing and industrial countries’ Department of Economics Working Paper 2005:34, Lund University.