Government Contingent Liabilities and the Measurement of Fiscal Impact.

Conventional fiscal accounting methodologies do not appropriately account for governments' noncash policies, such as their contingent liabilities. When these liabilities are called, budget costs can be large, as evidenced by the United States' saving and loan crisis. In general, deficit me...

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Bibliografiske detaljer
Institution som forfatter: International Monetary Fund
Format: Tidsskrift
Sprog:English
Udgivet: Washington, D.C. : International Monetary Fund, 1990.
Serier:IMF Working Papers; Working Paper ; No. 1990/057
Online adgang:Full text available on IMF
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245 1 0 |a Government Contingent Liabilities and the Measurement of Fiscal Impact. 
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300 |a 1 online resource (40 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a Conventional fiscal accounting methodologies do not appropriately account for governments' noncash policies, such as their contingent liabilities. When these liabilities are called, budget costs can be large, as evidenced by the United States' saving and loan crisis. In general, deficit measures may underestimate the macroeconomic impact of government policies, promoting the substitution of noncash for cash expenditure and increasing future financing requirements. The paper describes extended deficit measures to address the problem, but notes their limited practical value. Nonetheless, some alternative methods of valuing contingent liabilities are proposed to gauge fiscal impact and facilitate budgetary control. 
538 |a Mode of access: Internet 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1990/057 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1990/057/001.1990.issue-057-en.xml  |z IMF e-Library