Strategies for Countries with Favourable Fiscal Positions:
The financial crisis and economic downturn are going to weigh on fiscal positions in OECD countries over the short to medium-term, both through the operation of automatic stabilisers and the enactment of discretionary fiscal stimulus packages. However, the strategic policy options facing OECD countr...
Gespeichert in:
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| Weitere Verfasser: | , , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2008
|
| Schriftenreihe: | OECD Economics Department Working Papers
no.655 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | The financial crisis and economic downturn are going to weigh on fiscal positions in OECD countries over the short to medium-term, both through the operation of automatic stabilisers and the enactment of discretionary fiscal stimulus packages. However, the strategic policy options facing OECD countries are mainly determined by the soundness of their underlying fiscal positions which vary substantially. This paper first describes how OECD economies are situated with respect to underlying fiscal balances and net government debt. A number of countries seem to enjoy favourable fiscal positions with underlying fiscal surpluses, low government debt or even positive net financial asset positions. When taking account, as far as possible, of implicit liabilities associated with ageing populations and resource-based revenues, fiscal positions still vary greatly across countries. The paper then examines the criteria involved in deciding whether government financial asset accumulation is in excess of needs and the use to which any excess government saving might be put, whether increasing public spending or reducing taxes. Finally, the determinants of the optimal size of the government balance sheet for any given desired net debt position are discussed. |
| Beschreibung: | 1 Online-Ressource (34 p.) 21 x 29.7cm. |
| DOI: | 10.1787/230123832406 |
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| 520 | |a The financial crisis and economic downturn are going to weigh on fiscal positions in OECD countries over the short to medium-term, both through the operation of automatic stabilisers and the enactment of discretionary fiscal stimulus packages. However, the strategic policy options facing OECD countries are mainly determined by the soundness of their underlying fiscal positions which vary substantially. This paper first describes how OECD economies are situated with respect to underlying fiscal balances and net government debt. A number of countries seem to enjoy favourable fiscal positions with underlying fiscal surpluses, low government debt or even positive net financial asset positions. When taking account, as far as possible, of implicit liabilities associated with ageing populations and resource-based revenues, fiscal positions still vary greatly across countries. The paper then examines the criteria involved in deciding whether government financial asset accumulation is in excess of needs and the use to which any excess government saving might be put, whether increasing public spending or reducing taxes. Finally, the determinants of the optimal size of the government balance sheet for any given desired net debt position are discussed. | ||
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| indexdate | 2024-11-26T14:55:59Z |
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| spelling | Price, Robert VerfasserIn aut Strategies for Countries with Favourable Fiscal Positions Robert, Price ... [et al] = Stratégies pour les pays bénéficiant de situations budgétaires favorables / Robert, Price ... [et al] Stratégies pour les pays bénéficiant de situations budgétaires favorables Paris OECD Publishing 2008 1 Online-Ressource (34 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.655 The financial crisis and economic downturn are going to weigh on fiscal positions in OECD countries over the short to medium-term, both through the operation of automatic stabilisers and the enactment of discretionary fiscal stimulus packages. However, the strategic policy options facing OECD countries are mainly determined by the soundness of their underlying fiscal positions which vary substantially. This paper first describes how OECD economies are situated with respect to underlying fiscal balances and net government debt. A number of countries seem to enjoy favourable fiscal positions with underlying fiscal surpluses, low government debt or even positive net financial asset positions. When taking account, as far as possible, of implicit liabilities associated with ageing populations and resource-based revenues, fiscal positions still vary greatly across countries. The paper then examines the criteria involved in deciding whether government financial asset accumulation is in excess of needs and the use to which any excess government saving might be put, whether increasing public spending or reducing taxes. Finally, the determinants of the optimal size of the government balance sheet for any given desired net debt position are discussed. Economics Joumard, Isabelle MitwirkendeR ctb André, Christophe MitwirkendeR ctb Minegishi, Makoto MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/230123832406 Volltext |
| spellingShingle | Price, Robert Strategies for Countries with Favourable Fiscal Positions Economics |
| title | Strategies for Countries with Favourable Fiscal Positions |
| title_alt | Stratégies pour les pays bénéficiant de situations budgétaires favorables |
| title_auth | Strategies for Countries with Favourable Fiscal Positions |
| title_exact_search | Strategies for Countries with Favourable Fiscal Positions |
| title_full | Strategies for Countries with Favourable Fiscal Positions Robert, Price ... [et al] = Stratégies pour les pays bénéficiant de situations budgétaires favorables / Robert, Price ... [et al] |
| title_fullStr | Strategies for Countries with Favourable Fiscal Positions Robert, Price ... [et al] = Stratégies pour les pays bénéficiant de situations budgétaires favorables / Robert, Price ... [et al] |
| title_full_unstemmed | Strategies for Countries with Favourable Fiscal Positions Robert, Price ... [et al] = Stratégies pour les pays bénéficiant de situations budgétaires favorables / Robert, Price ... [et al] |
| title_short | Strategies for Countries with Favourable Fiscal Positions |
| title_sort | strategies for countries with favourable fiscal positions |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/230123832406 |
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