Notes and comments. On the sustainability area as a simplifying didactic device
评论了公共财政可持续性区域这一新概念,认为它本身不能作为判断财政可持续性的合理标准。
Recently, the sustainability area of public finance has been launched as a simplifying screening device for the analysis of fiscal sustainability. In this comment, it is argued that the novel notion of the sustainability area (reflecting, in turn, a simple notion of public debt sustainability) does not, by itself, have any bearing on the sustainability of public finances: being positioned within the sustainability area cannot serve as a reasonable criterion of fiscal sustainability.