A Practical Guide to Public Debt Dynamics, Fiscal Sustainability, and Cyclical Adjustment of Budgetary Aggregates

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A Cross-Country Database of Fiscal Space (2017, unknown): “Ley (2009) and Escolano (2010) outline the concept of sustainability that underlies the definition of this gap measure.”
Walking Hand in Hand: Fiscal Policy and Growth in Advanced Economies (2012, unknown): “6 See Escolano (2010), as well as Section III below.”
Historical Patterns and Dynamics of Public Debt—Evidence From a New Database (2011, methodology): “We now turn to analyzing the sources of debt decreases and increases, using as starting point the well-known equation for decomposing debt changes (for instance, see Escolano, 2010): dT ! d0 ¼ XT t¼1 it ! gt 1þ gt dt!”
What is a Sustainable Public Debt (2015, unknown): “We identify critical flaws in the traditional approach to evaluate debt sustainability, and examine three alternative approaches that provide useful econometric and model-simulation tools to analyze debt sustainability.”
Second-Generation Fiscal Rules; Balancing Simplicity, Flexibility, and Enforceability (2018, background): “…the underestimation of the output gap by 1.3 percentage points implies that the cyclically adjusted balance was overestimated by 0.5 percentage points of potential GDP on average, all else being equal (see Escolano 2010 for the formula relating the output gap and the cyclically adjusted balance).”