Izvorni znanstveni članak

https://doi.org/10.3326/pse.50.1.4

Public debt and the dollar

Aaron Mehrotra ; Bank for International Settlements, Basel, Switzerland *

* Dopisni autor.

Sažetak

We examine the relationship between the broad dollar exchange rate and public debt, using a global panel of over 140 countries. We show that a broad dollar appreciation is associated with higher public debt in the medium run. This pattern is mostly driven by emerging market and developing economies. We further show that it occurs especially in countries that have higher shares of FX debt and for which the market perceptions of debt sustainability are more adverse.

Ključne riječi

public debt; fiscal policy; broad dollar exchange rate

Hrčak ID:

345529

URI

https://hrcak.srce.hr/345529

Datum izdavanja:

18.3.2026.

Posjeta: 218 *