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...
Gespeichert in:
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| Weitere Verfasser: | , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2016
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| Schriftenreihe: | OECD Economics Department Working Papers
no.1352 |
| Schlagworte: | |
| Online-Zugang: | 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 p.) |
| DOI: | 10.1787/fec60e1b-en |
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| spelling | Botev, Jarmila VerfasserIn 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 p.) Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1352 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 MitwirkendeR ctb Mourougane, Annabelle MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/fec60e1b-en 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_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 | 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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