A Re-assessment of Fiscal Space in OECD Countries:
To what extent can public deficits increase without putting fiscal sustainability at risk, given the specific current macroeconomic situation of protracted low growth and low interest rates, combined with relatively high government debt levels? The answer depends on many factors, such as the state o...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Paris
OECD Publishing
2016
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Schlagworte: | |
| Online-Zugang: | UBA01 UBG01 UEI01 UER01 UPA01 UBR01 UBW01 FFW01 FNU01 EUV01 FRO01 FHR01 FHN01 TUM01 FHI01 UBM01 Volltext |
| Zusammenfassung: | To what extent can public deficits increase without putting fiscal sustainability at risk, given the specific current macroeconomic situation of protracted low growth and low interest rates, combined with relatively high government debt levels? The answer depends on many factors, such as the state of the economy, the fiscal track record and projections of population ageing and their effect on government spending. This paper makes use of three different approaches to better assess fiscal space, which can be defined in a broad manner as the extent to which public debt can increase. These approaches converge to a conclusion that there is fiscal space in most of the large advanced economies. There is also evidence that fiscal space may have risen in most OECD countries since 2014, mainly driven by the decrease in interest rates. Reforms to health and pension programmes would help to create additional fiscal space |
| Beschreibung: | 1 Online-Ressource (30 Seiten) |
| DOI: | 10.1787/fec60e1b-en |
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| spelling | Botev, Jarmila Verfasser aut A Re-assessment of Fiscal Space in OECD Countries Jarmila Botev, Jean-Marc Fournier and Annabelle Mourougane = Une ré-évaluation des marges de manoeuvre budgétaires dans les pays de l'OCDE / Jarmila Botev, Jean-Marc Fournier et Annabelle Mourougane Une ré-évaluation des marges de manoeuvre budgétaires dans les pays de l'OCDE Paris OECD Publishing 2016 1 Online-Ressource (30 Seiten) txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers To what extent can public deficits increase without putting fiscal sustainability at risk, given the specific current macroeconomic situation of protracted low growth and low interest rates, combined with relatively high government debt levels? The answer depends on many factors, such as the state of the economy, the fiscal track record and projections of population ageing and their effect on government spending. This paper makes use of three different approaches to better assess fiscal space, which can be defined in a broad manner as the extent to which public debt can increase. These approaches converge to a conclusion that there is fiscal space in most of the large advanced economies. There is also evidence that fiscal space may have risen in most OECD countries since 2014, mainly driven by the decrease in interest rates. Reforms to health and pension programmes would help to create additional fiscal space Economics Fournier, Jean-Marc ctb Mourougane, Annabelle ctb https://doi.org/10.1787/fec60e1b-en Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Botev, Jarmila A Re-assessment of Fiscal Space in OECD Countries Economics |
| title | A Re-assessment of Fiscal Space in OECD Countries |
| title_alt | Une ré-évaluation des marges de manoeuvre budgétaires dans les pays de l'OCDE |
| title_auth | A Re-assessment of Fiscal Space in OECD Countries |
| title_exact_search | A Re-assessment of Fiscal Space in OECD Countries |
| title_exact_search_txtP | A Re-assessment of Fiscal Space in OECD Countries |
| title_full | A Re-assessment of Fiscal Space in OECD Countries Jarmila Botev, Jean-Marc Fournier and Annabelle Mourougane = Une ré-évaluation des marges de manoeuvre budgétaires dans les pays de l'OCDE / Jarmila Botev, Jean-Marc Fournier et Annabelle Mourougane |
| title_fullStr | A Re-assessment of Fiscal Space in OECD Countries Jarmila Botev, Jean-Marc Fournier and Annabelle Mourougane = Une ré-évaluation des marges de manoeuvre budgétaires dans les pays de l'OCDE / Jarmila Botev, Jean-Marc Fournier et Annabelle Mourougane |
| title_full_unstemmed | A Re-assessment of Fiscal Space in OECD Countries Jarmila Botev, Jean-Marc Fournier and Annabelle Mourougane = Une ré-évaluation des marges de manoeuvre budgétaires dans les pays de l'OCDE / Jarmila Botev, Jean-Marc Fournier et Annabelle Mourougane |
| title_short | A Re-assessment of Fiscal Space in OECD Countries |
| title_sort | a re assessment of fiscal space in oecd countries |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/fec60e1b-en |
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