I would greatly appreciate if you could explain me how to calculate fiscal space for an specific country. Or, could you please introduce me some references which explain it's calculation step by step or via a numerical example. I found this document but the numbers are not exactly reproducible. Therefore, I am not sure about it.

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    $\begingroup$ That calculation is for a euro area country. There’s a big difference between the euro area country and a country with a floating currency. You should specify whether you want to discuss the euro area, where “fiscal space” can be formally defined, or more generally, where the concept is very vague. $\endgroup$ – Brian Romanchuk Apr 20 at 18:41
  • $\begingroup$ @BrianRomanchuk Thanks a lot. I don't want to discuss the euro area. In general, I need to calculate it for emerging economies. $\endgroup$ – ebrahimi Apr 21 at 10:02
  • $\begingroup$ Big difference for a country that borrows in its own currency versus one that borrows in a foreign currency (USD, EUR,...). If it borrows in à foreign currency, would need to look at rating agency/international agency guidelines. If it’s borrowing in its own currency, the constraint is soft. Probably the only place to find formal formulae is the euro area. $\endgroup$ – Brian Romanchuk Apr 21 at 16:19
  • $\begingroup$ @BrianRomanchuk Thanks for sharing your information. Could you please let me know if there is a public dataset for fiscal space measures which are provided on the pages 3-4 of this paper? $\endgroup$ – ebrahimi Apr 21 at 17:47
  • $\begingroup$ The IMF produces a fiscal monitor. Probably has the statistics to cover the simpler variants of “fiscal space” in that document. $\endgroup$ – Brian Romanchuk Apr 21 at 21:57

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