000			04307nam a22004693i 4500
001			EBC1587890
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005			20181121171915.0
006			m o d |
007			cr cnu||||||||
008			181113s2013 xx o ||||0 eng d
020			_a9781484301616 _q(electronic bk.)
020			_z9781484381991
035			_a(MiAaPQ)EBC1587890
035			_a(Au-PeEL)EBL1587890
035			_a(CaPaEBR)ebr10739491
035			_a(CaONFJC)MIL493123
035			_a(OCoLC)867928067
040			_aMiAaPQ _beng _erda _epn _cMiAaPQ _dMiAaPQ
050		4	_aHJ192 -- .T36 2013eb
082	0		_a338.12689
100	1		_aTanner, Evan.
245	1	0	_aFiscal Sustainability : _bA 21st Century Guide for the Perplexed.
264		1	_aWashington : _bInternational Monetary Fund, _c2013.
264		4	_c©2013.
300			_a1 online resource (93 pages)
336			_atext _btxt _2rdacontent
337			_acomputer _bc _2rdamedia
338			_aonline resource _bcr _2rdacarrier
490	1		_aIMF Working Papers
505	0		_aCover Page -- Title Page -- Copyright Page -- Contents -- Tables -- Figures -- I. Introduction -- 1. Government Debt/GDP, Selected Countries, Weighted Average -- II. The Building Blocks of a Debt Sustainability Analysis (DSA) -- A. The Public Sector Budget Constraint -- B. Ad-Hoc Targets For The Public Debt and/or The Primary Surplus -- C. Alternative Scenarios in a Debt Sustainability Analysis -- 1. Summary, Recent Research on Public Debt Sustainability, Stochastic Approach -- III. The Government's Present Value Constraint: A Restatement -- IV. Maximum Sustainable Debt -- V. Distributing Surpluses Over Time: A Fiscal Objective Function -- A. Objective: How To Distribute The Fiscal Burden Over Time -- B. Objective Functions and Structural Surpluses-Further Considerations -- C. Debt and Expenditure Smoothing-Evidence From the Recent Downturn -- 2. Industrialized Countries: Change in Primary Government Spending (ratio to GDP) 2009 Minus 2008 (vertical axis), and Net Public Debt/GDP (horizontal axis) -- 3. Emerging Economies: Change in Primary Government Spending (ratio to GDP) 2009 minus 2008 (vertical axis), and Net Public Debt/GDP (horizontal axis) -- VI. Required Adjustment in an Uncertain Environment -- 2. Target Primary Surplus, Probabilistic Approach -- 4. Target Primary Surplus, "Low" Volatility Case -- 3. Example of Tax Smoothing with Uncertain Potential Output -- 5. Target Primary Surplus, "High" Volatility Case -- VIII. Prospective Liabilities -- 4. Long-run Fiscal Imbalances in the United States -- IX. The Net Worth Approach -- X. Non-Renewable Resources -- 5. Non-Renewable Resource Management: Permanent Income and "Bird-In-Hand" Approaches -- 6. Approximate Sovereign Cumulative Default Probabilities: 5-year bonds -- 7. Assessment of Fiscal Sustainability for a Hypothetical Economy: A Contingent Claims Approach.
505	8		_aXII. Summary and Conclusions -- References -- XI. Contingent Claims Analysis and Market Indicators of Default Risk -- VII. Sustainability Over The Business Cycle -- Footnotes.
520			_aThis 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.
588			_aDescription based on publisher supplied metadata and other sources.
590			_aElectronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2018. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
650		0	_aConvergence (Economics) -- Econometric models.
650		0	_aFiscal policy -- Econometric models.
655		4	_aElectronic books.
776	0	8	_iPrint version: _aTanner, Evan _tFiscal Sustainability : A 21st Century Guide for the Perplexed _dWashington : International Monetary Fund,c2013 _z9781484381991
797	2		_aProQuest (Firm)
830		0	_aIMF Working Papers
856	4	0	_uhttps://ebookcentral.proquest.com/lib/buse-ebooks/detail.action?docID=1587890 _zClick to View
999			_c116886 _d116886