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|z 9781475579772
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Berg, Andrew.
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|a Assessing Bias and Accuracy in the World Bank-IMF's Debt Sustainability Framework for Low-Income Countries /
|c Andrew Berg, Enrico Berkes, Catherine Pattillo, Andrea Presbitero.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2014.
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| 300 |
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|a 1 online resource (39 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a The World Bank and the IMF have adopted a debt sustainability framework (DSF) to evaluate the risk of debt distress in Low Income Countries (LICs). At the core of the DSF are empirically-based thresholds for each of five different measures of the debt burden (the 'debt threshold approach' DTA). The DSF contains a rule for aggregating the information contained in these five different variables which we label the 'worst-case aggregator' (WCA) in view of the fact that the DSF considers a breach of any one of the thresholds sufficient to indicate a high risk of debt distress. However, neither the DTA nor the WCA has heretofore been subject to empirical testing. We find that: (1) the DTA loses information relative to a simple proposed alternative; (2) the WCA is too conservative (predicting crises too often) in terms of the loss function used in the DSF; and (3) the WCA is less accurate than some simple proposed alternative aggregators as a predictor of debt distress.
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|a Mode of access: Internet
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|a Berkes, Enrico.
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|a Pattillo, Catherine.
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|a Presbitero, Andrea.
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|a IMF Working Papers; Working Paper ;
|v No. 2014/048
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2014/048/001.2014.issue-048-en.xml
|z IMF e-Library
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