Fiscal Insurance and Debt Management in OECD Economies



Ψl,2

Ψι,3

Ψl,5

Ψ2,1

Ψ2,3

Ψ2,5

Im

Φι

¢3

¢5

Australia

0.335

0.53

0.5

0.238

0.369

0.592

0.403

0.441

0.383

0.243

Austria

0.34

0.878

0.588

0.299

1.039

1.185

1.393

1.03

0.726

0.519

Belgium

0.915

2.14

2.507

1.039

2.418

2.498

1.399

1.412

1.522

1.868

Canada

0.556

1.09

1.183

0.477

0.79

1.097

0.813

0.691

0.526

0.458

France

0.416

1.236

1.394

0.321

0.987

1.478

0.907

0.949

0.691

0.172

Germany

0.172

0.691

0.623

0.183

1.211

1.83

0.745

0.429

0.851

0.545

Ireland

0.19

1.293

2.15

0.13

0.942

1.879

0.458

0.784

0.835

0.849

Italy

0.586

1.394

1.526

0.771

2.902

2.446

0.774

0.418

0.305

0.306

NL

0.813

2.306

2.993

0.868

3.671

4.822

0.492

0.738

0.973

0.939

Norway

0.028

0.038

0.172

0.022

0.033

0.166

0.551

0.139

0.103

0.197

UK

0.342

0.653

0.761

0.328

0.816

2.667

1.427

1.456

0.597

0.643

US

0.572

1.376

1.651

0.559

1.789

3.021

1.056

0.775

0.535

0.27

Table 3 - Relative Persistence Measures

36



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