Eric M. Leeper

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Staff Working Papers

Analyzing Fiscal Sustainability

Staff Working Paper 2013-27 Huixin Bi, Eric M. Leeper
The authors study the implications of fiscal policy behaviour for sovereign risk in a framework that determines a country’s fiscal limit, the point at which, for economic or political reasons, taxes and spending can no longer adjust to stabilize debt.
Content Type(s): Staff Research, Staff Working Papers Topic(s): Economic models, Fiscal Policy JEL Code(s): E, E6, E62, E65, H, H6, H63

Uncertain Fiscal Consolidations

Staff Working Paper 2013-26 Huixin Bi, Eric M. Leeper, Campbell Leith
The paper explores the macroeconomic consequences of fiscal consolidations whose timing and composition - either tax- or spending-based - are uncertain.