Fiscal Insurance and Debt Management in OECD Economies



P (mv,b)

P (ΔMV,ΔB)

P (ΔMV,ΔY)

P (δy,δb)

P (ΔMV,ω)

p (ΔB,ω)

UR
MV

UR
B

Australia

0.897

0.653

-0.183

0.048

0.549

0.408

-2.47

-2.19

Austria

0.798

0.925

-0.228

-0.367

0.131

0.304

-1.69

-1.61

Belgium

0.997

0.883

-0.172

-0.117

-0.117

-0.154

-0.17

-0.34

Canada

0.994

0.858

-0.262

-0.321

0.303

0.602

-0.03

-0.8

France

Germany

0.996

0.794

-0.347

-0.397

-0.213

-0.315

-1.62

-1.26

Ireland

0.903

0.63

-0.491

-0.799

0.469

0.77

-1.23

-0.85

Italy

0.993

0.604

-0.547

-0.337

-0.117

0.087

-0.46

-0.59

NL

0.871

0.904

-0.517

-0.684

0.317

0.477

-0.43

-1.81

Norway

0.804

0.867

-0.132

0.11

0.36

0.232

-1.95

-2.31

UK

0.81

0.445

0.039

-0.299

0.369

0.539

-2.12

-1.11

US

0.987

0.715

-0.505

-0.45

0.564

0.871

-0.69

-1.52

Table 2 - Comparing Debt Measures

Pχγ is the correlation coefficient between X and Y where MV is the market value of debt, B is the
outstanding value of debt,
Y is GDP, ω denotes the primary deficit. The statistic quoted in the UR column
is the Augmented Dickey Fuller test for each variable including four lags and a time trend.

35



More intriguing information

1. Palvelujen vienti ja kansainvälistyminen
2. The name is absent
3. Literary criticism as such can perhaps be called the art of rereading.
4. Ahorro y crecimiento: alguna evidencia para la economía argentina, 1970-2004
5. The name is absent
6. The name is absent
7. Natural Resources: Curse or Blessing?
8. The name is absent
9. Perceived Market Risks and Strategic Risk Management of Food Manufactures: Empirical Results from the German Brewing Industry
10. Distribution of aggregate income in Portugal from 1995 to 2000 within a SAM (Social Accounting Matrix) framework. Modeling the household sector