Defining the Government's Debt and Deficit:
Although the budget deficit and the public debt feature prominently in political debate and economic research, there is no agreement about how they should be measured. They can be defined for different sets of public institutions, including the nested sets corresponding to central government, genera...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2015
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| Schriftenreihe: | IMF Working Papers: Working Paper No. 15 / 238
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| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | Although the budget deficit and the public debt feature prominently in political debate and economic research, there is no agreement about how they should be measured. They can be defined for different sets of public institutions, including the nested sets corresponding to central government, general government, and the public sector, and, for any definition of government, there are many measures of the debt and deficit, including those generated by four kinds of accounts (cash, financial, full accrual, and comprehensive), which can be derived from four nested sets of assets and liabilities. Each debt and deficit measure says something about public finances, but none tells the whole story. Each is also vulnerable to manipulation, and is likely to be manipulated if it is subject to a binding fiscal rule or target. Narrow definitions of government encourage the shifting of spending to entities outside the defined perimeter of government. Narrow definitions of debt and deficit encourage operations involving off-balance-sheets assets and liabilities, while broad measures are susceptible to the mismeasurement of on-balance-sheet assets and liabilities. Reviewing the literature on these issues, the paper concludes that governments should publish several measures of the debt and deficit in a form that clearly reveals their interrelationships |
| Beschreibung: | 1 Online-Ressource (36 p) |
| ISBN: | 151354750X 9781513547503 |
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| 520 | 3 | |a Although the budget deficit and the public debt feature prominently in political debate and economic research, there is no agreement about how they should be measured. They can be defined for different sets of public institutions, including the nested sets corresponding to central government, general government, and the public sector, and, for any definition of government, there are many measures of the debt and deficit, including those generated by four kinds of accounts (cash, financial, full accrual, and comprehensive), which can be derived from four nested sets of assets and liabilities. Each debt and deficit measure says something about public finances, but none tells the whole story. Each is also vulnerable to manipulation, and is likely to be manipulated if it is subject to a binding fiscal rule or target. Narrow definitions of government encourage the shifting of spending to entities outside the defined perimeter of government. Narrow definitions of debt and deficit encourage operations involving off-balance-sheets assets and liabilities, while broad measures are susceptible to the mismeasurement of on-balance-sheet assets and liabilities. Reviewing the literature on these issues, the paper concludes that governments should publish several measures of the debt and deficit in a form that clearly reveals their interrelationships | |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:37Z |
| indexdate | 2024-07-10T09:35:47Z |
| institution | BVB |
| isbn | 151354750X 9781513547503 |
| language | English |
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| record_format | marc |
| series2 | IMF Working Papers: Working Paper No. 15 / 238 |
| spelling | Irwin, Timothy Verfasser aut Defining the Government's Debt and Deficit Irwin, Timothy Washington, D.C International Monetary Fund 2015 1 Online-Ressource (36 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers: Working Paper No. 15 / 238 Although the budget deficit and the public debt feature prominently in political debate and economic research, there is no agreement about how they should be measured. They can be defined for different sets of public institutions, including the nested sets corresponding to central government, general government, and the public sector, and, for any definition of government, there are many measures of the debt and deficit, including those generated by four kinds of accounts (cash, financial, full accrual, and comprehensive), which can be derived from four nested sets of assets and liabilities. Each debt and deficit measure says something about public finances, but none tells the whole story. Each is also vulnerable to manipulation, and is likely to be manipulated if it is subject to a binding fiscal rule or target. Narrow definitions of government encourage the shifting of spending to entities outside the defined perimeter of government. Narrow definitions of debt and deficit encourage operations involving off-balance-sheets assets and liabilities, while broad measures are susceptible to the mismeasurement of on-balance-sheet assets and liabilities. Reviewing the literature on these issues, the paper concludes that governments should publish several measures of the debt and deficit in a form that clearly reveals their interrelationships Online-Ausg http://www.elibrary.imf.org/view/IMF001/22948-9781513547503/22948-9781513547503/22948-9781513547503.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Irwin, Timothy Defining the Government's Debt and Deficit |
| title | Defining the Government's Debt and Deficit |
| title_auth | Defining the Government's Debt and Deficit |
| title_exact_search | Defining the Government's Debt and Deficit |
| title_exact_search_txtP | Defining the Government's Debt and Deficit |
| title_full | Defining the Government's Debt and Deficit Irwin, Timothy |
| title_fullStr | Defining the Government's Debt and Deficit Irwin, Timothy |
| title_full_unstemmed | Defining the Government's Debt and Deficit Irwin, Timothy |
| title_short | Defining the Government's Debt and Deficit |
| title_sort | defining the government s debt and deficit |
| url | http://www.elibrary.imf.org/view/IMF001/22948-9781513547503/22948-9781513547503/22948-9781513547503.xml |
| work_keys_str_mv | AT irwintimothy definingthegovernmentsdebtanddeficit |