IMF Staff papers : Volume 36 No. 4.

Two recent criticisms of summary fiscal indicators are appraised: first, that they and the conventionally measured public sector balances from which they are derived are not sufficiently broadly defined; second, that they are meaningless because they do not reflect changes in the distribution of wea...

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书目详细资料
企业作者: International Monetary Fund. Research Dept
格式: 杂志
语言:English
出版: Washington, D.C. : International Monetary Fund, 1989.
丛编:IMF Staff Papers; IMF Staff Papers ; No. 1989/004
在线阅读:Full text available on IMF
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520 3 |a Two recent criticisms of summary fiscal indicators are appraised: first, that they and the conventionally measured public sector balances from which they are derived are not sufficiently broadly defined; second, that they are meaningless because they do not reflect changes in the distribution of wealth between generations. The paper concludes that the defects of summary fiscal indicators have been exaggerated. It is not feasible to include all changes in public sector net worth in the deficit, and the existence of liquidity constraints and aversion to indebtedness imply that conventionally measured public sector deficits are not irrelevant. 
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