财政空间缩小的风险.docx

BISWorkingPapersNo1328

Theperilsofnarrowingfiscalspaces

byHannoKase,LeonardoMelosi,SebastianRastandMatthiasRottner

MonetaryandEconomicDepartment

February2026

JELclassification:E31,E52,E62,E58

Keywords:fiscallimits,publicdebt,monetarypolicy,inflation,

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