Abstract
We postulate a new method of measuring debt which we call the debt burden (DB). We claim that DB reveals the true debt obligations of the fiscal authority by taking the intertemporal debt obligations of the government into account. It is more accurate and more transparent than the currently used methods of assessing debt. DB is calculated on a daily basis and it clearly identifies debt risks. It is a superior policy making tool for the fiscal authority. DB also reveals the true stance of fiscal dominance and the associated policy tradeoffs faced by the monetary authority.
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