Fiscal Sustainability [electronic resource] : A 21st Century Guide for the Perplexed / Evan Tanner.
Material type:
TextSeries: IMF Working Papers; Working Paper ; No. 13/89Publication details: Washington, D.C. : International Monetary Fund, 2013Description: 1 online resource (49 p.)ISBN: 1484381998 :ISSN: 1018-5941Subject(s): Budget Constraint | Debt Stabilization | Deficit | Deficits | Fiscal Adjustment | Fiscal Rule | Brazil | Bulgaria | Turkey | United StatesAdditional physical formats: Print Version:: Fiscal Sustainability : A 21st Century Guide for the PerplexedOnline resources: IMF e-Library | IMF Book Store Abstract: This paper critically reviews recent work regarding the sustainability of public debt. It argues that Debt Sustainability Analyses (DSAs) should be more than mere mechanical simulation exercises. Instead, a DSA should be linked to some objective regarding the distribution of fiscal burdens and distortions over time (in the tradition of Barro's 1979 tax smoothing objective). The paper discusses objective functions that yield simple and transparent fiscal policy rules.
This paper critically reviews recent work regarding the sustainability of public debt. It argues that Debt Sustainability Analyses (DSAs) should be more than mere mechanical simulation exercises. Instead, a DSA should be linked to some objective regarding the distribution of fiscal burdens and distortions over time (in the tradition of Barro's 1979 tax smoothing objective). The paper discusses objective functions that yield simple and transparent fiscal policy rules.
Description based on print version record.
There are no comments on this title.