Fiscal sustainability :: a 21st century guide for the perplexed /
"This 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...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Körperschaft: | |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C.] :
International Monetary Fund,
©2013.
|
| Schriftenreihe: | IMF working paper ;
WP/13/89. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | "This 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"--Abstract |
| Beschreibung: | Title from PDF title page (IMF Web site, viewed Apr 23, 2013). "Institute for Capacity Development"--Page 2 of pdf "April 2013." |
| Beschreibung: | 1 online resource (49 pages) : color illustrations |
| Bibliographie: | Includes bibliographical references (pages 42-48). |
| ISBN: | 9781484301616 1484301617 1484397169 9781484397169 1484351495 9781484351499 |
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| 245 | 1 | 0 | |a Fiscal sustainability : |b a 21st century guide for the perplexed / |c Evan Tanner. |
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| 500 | |a Title from PDF title page (IMF Web site, viewed Apr 23, 2013). | ||
| 500 | |a "Institute for Capacity Development"--Page 2 of pdf | ||
| 500 | |a "April 2013." | ||
| 520 | |a "This 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"--Abstract | ||
| 504 | |a Includes bibliographical references (pages 42-48). | ||
| 505 | 0 | |a Cover 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. | |
| 505 | 8 | |a v. Distributing Surpluses Over Time: A Fiscal Objective FunctionA. 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). | |
| 505 | 8 | |a VI. Required Adjustment in an Uncertain Environment2. 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. | |
| 505 | 8 | |a 7. Assessment of Fiscal Sustainability for a Hypothetical Economy: A Contingent Claims ApproachXII. Summary and Conclusions; References; XI. Contingent Claims Analysis and Market Indicators of Default Risk; VII. Sustainability Over The Business Cycle; Footnotes. | |
| 546 | |a English. | ||
| 650 | 0 | |a Debts, Public |x Econometric models. | |
| 650 | 0 | |a Fiscal policy. |0 http://id.loc.gov/authorities/subjects/sh85048601 | |
| 650 | 0 | |a Government spending policy. |0 http://id.loc.gov/authorities/subjects/sh85056108 | |
| 650 | 0 | |a Stochastic models. |0 http://id.loc.gov/authorities/subjects/sh2005004376 | |
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| author | Tanner, Evan |
| author_GND | http://id.loc.gov/authorities/names/no98108501 |
| author_corporate | International Monetary Fund. Institute for Capacity Development |
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| contents | Cover 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 FunctionA. 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 Environment2. 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 ApproachXII. Summary and Conclusions; References; XI. Contingent Claims Analysis and Market Indicators of Default Risk; VII. Sustainability Over The Business Cycle; Footnotes. |
| ctrlnum | (OCoLC)840514383 |
| dewey-full | 336.3/4 |
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| dewey-ones | 336 - Public finance |
| dewey-raw | 336.3/4 |
| dewey-search | 336.3/4 |
| dewey-sort | 3336.3 14 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| id | ZDB-4-EBA-ocn840514383 |
| illustrated | Illustrated |
| indexdate | 2024-11-27T13:25:18Z |
| institution | BVB |
| institution_GND | http://id.loc.gov/authorities/names/no2012075144 |
| isbn | 9781484301616 1484301617 1484397169 9781484397169 1484351495 9781484351499 |
| language | English |
| oclc_num | 840514383 |
| open_access_boolean | |
| owner | MAIN DE-863 DE-BY-FWS |
| owner_facet | MAIN DE-863 DE-BY-FWS |
| physical | 1 online resource (49 pages) : color illustrations |
| psigel | ZDB-4-EBA |
| publishDate | 2013 |
| publishDateSearch | 2013 |
| publishDateSort | 2013 |
| publisher | International Monetary Fund, |
| record_format | marc |
| series | IMF working paper ; |
| series2 | IMF working paper ; |
| spelling | Tanner, Evan, author. http://id.loc.gov/authorities/names/no98108501 Fiscal sustainability : a 21st century guide for the perplexed / Evan Tanner. [Washington, D.C.] : International Monetary Fund, ©2013. 1 online resource (49 pages) : color illustrations text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF working paper ; WP/13/89 Title from PDF title page (IMF Web site, viewed Apr 23, 2013). "Institute for Capacity Development"--Page 2 of pdf "April 2013." "This 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"--Abstract Includes bibliographical references (pages 42-48). Cover 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 FunctionA. 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 Environment2. 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 ApproachXII. Summary and Conclusions; References; XI. Contingent Claims Analysis and Market Indicators of Default Risk; VII. Sustainability Over The Business Cycle; Footnotes. English. Debts, Public Econometric models. Fiscal policy. http://id.loc.gov/authorities/subjects/sh85048601 Government spending policy. http://id.loc.gov/authorities/subjects/sh85056108 Stochastic models. http://id.loc.gov/authorities/subjects/sh2005004376 Dettes publiques Modèles économétriques. Politique fiscale. Dépenses publiques Politique gouvernementale. Modèles stochastiques. BUSINESS & ECONOMICS Public Finance. bisacsh Debts, Public Econometric models fast Fiscal policy fast Government spending policy fast Stochastic models fast Government debt Economic indicators Econometrics Forecasting Statistics Trends International comparisons Overseas item International Monetary Fund. Institute for Capacity Development. http://id.loc.gov/authorities/names/no2012075144 has work: Fiscal sustainability (Text) https://id.oclc.org/worldcat/entity/E39PCFJK4JFGB4k76xhvWGhPwC https://id.oclc.org/worldcat/ontology/hasWork 1484381998 IMF working paper ; WP/13/89. http://id.loc.gov/authorities/names/no89010263 FWS01 ZDB-4-EBA FWS_PDA_EBA https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1254563 Volltext |
| spellingShingle | Tanner, Evan Fiscal sustainability : a 21st century guide for the perplexed / IMF working paper ; Cover 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 FunctionA. 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 Environment2. 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 ApproachXII. Summary and Conclusions; References; XI. Contingent Claims Analysis and Market Indicators of Default Risk; VII. Sustainability Over The Business Cycle; Footnotes. Debts, Public Econometric models. Fiscal policy. http://id.loc.gov/authorities/subjects/sh85048601 Government spending policy. http://id.loc.gov/authorities/subjects/sh85056108 Stochastic models. http://id.loc.gov/authorities/subjects/sh2005004376 Dettes publiques Modèles économétriques. Politique fiscale. Dépenses publiques Politique gouvernementale. Modèles stochastiques. BUSINESS & ECONOMICS Public Finance. bisacsh Debts, Public Econometric models fast Fiscal policy fast Government spending policy fast Stochastic models fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85048601 http://id.loc.gov/authorities/subjects/sh85056108 http://id.loc.gov/authorities/subjects/sh2005004376 |
| title | Fiscal sustainability : a 21st century guide for the perplexed / |
| title_auth | Fiscal sustainability : a 21st century guide for the perplexed / |
| title_exact_search | Fiscal sustainability : a 21st century guide for the perplexed / |
| title_full | Fiscal sustainability : a 21st century guide for the perplexed / Evan Tanner. |
| title_fullStr | Fiscal sustainability : a 21st century guide for the perplexed / Evan Tanner. |
| title_full_unstemmed | Fiscal sustainability : a 21st century guide for the perplexed / Evan Tanner. |
| title_short | Fiscal sustainability : |
| title_sort | fiscal sustainability a 21st century guide for the perplexed |
| title_sub | a 21st century guide for the perplexed / |
| topic | Debts, Public Econometric models. Fiscal policy. http://id.loc.gov/authorities/subjects/sh85048601 Government spending policy. http://id.loc.gov/authorities/subjects/sh85056108 Stochastic models. http://id.loc.gov/authorities/subjects/sh2005004376 Dettes publiques Modèles économétriques. Politique fiscale. Dépenses publiques Politique gouvernementale. Modèles stochastiques. BUSINESS & ECONOMICS Public Finance. bisacsh Debts, Public Econometric models fast Fiscal policy fast Government spending policy fast Stochastic models fast |
| topic_facet | Debts, Public Econometric models. Fiscal policy. Government spending policy. Stochastic models. Dettes publiques Modèles économétriques. Politique fiscale. Dépenses publiques Politique gouvernementale. Modèles stochastiques. BUSINESS & ECONOMICS Public Finance. Debts, Public Econometric models Fiscal policy Government spending policy Stochastic models |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1254563 |
| work_keys_str_mv | AT tannerevan fiscalsustainabilitya21stcenturyguidefortheperplexed AT internationalmonetaryfundinstituteforcapacitydevelopment fiscalsustainabilitya21stcenturyguidefortheperplexed |