"Crises financières Modèles économétriques." . . . . "Finanzpolitik." . . "Fiscal policy Econometric models." . . "Fiscal policy Econometric models" . "Original sin and procylical fiscal policy : two sides of the same coin?" . . . "Original sin and procylical fiscal policy two sides of the same coin?" . . . . . . . . . "Original sin and procy[c]lical fiscal policy : two sides of the same coin?"@en . . . . . . "The paper develops a simple model of sovereign debt where default both through direct repudiation and through inflation are possible and give rise to (endogenous) constraints on the currency composition and the level of public debt. This set up allows to show that procyclicality of fiscal policy in EMEs can arise as a by-product of the \"original sin\" and both can be explained by the presence of weak monetary institutions which cannot commit to price stability. The paper suggests that, as monetary institutions in EMEs strengthen, the \"original sin\" would fade away and the cyclical properties of fiscal policy would improve."@en . . . . . "Electronic books"@en . . . . . . . . "Original sin and procy[c]lical fiscal policy two sides of the same coin?"@en . . . . "Original sin and procylical [ie. procyclical] fiscal policy : two sides of the same coin?" . "Original sin and procylical [i.e. procyclical] fiscal policy two sides of the same coin?" . "Original sin and procylical fiscal policy: two sides of the same coin?" . "Livres électroniques" . "Original Sin and Procylical Fiscal Policy Two Sides of the Same Coin?" . "Electronic resource" . . . . "Business cycles Econometric models." . . "Business cycles Econometric models" . "Politique fiscale Modèles économétriques." . . "Öffentliche Schulden." . . "Theorie." . . "Cycles économiques Modèles économétriques." . . "Financial crises Econometric models." . . "Financial crises Econometric models" . "Electronic books." . . "Electronic books" . "Adler, Gustavo" . .