Long-Term Objectives for Government Debt
AbstractThis paper considers what fiscal targets the government should use to achieve long-term fiscal objectives. Among its findings are: 1. At least three important and possibly conflicting long-term objectives are associated with concerns about debt and deficits: intergenerational equity, economic performance, and fiscal sustainability. 2. If governments have incentives not to adhere to fiscal policy targets, then restrictions on fiscal policy actions may be desirable, even though such restrictions reduce the scope for policy flexibility. 3. A collection of forward-looking measures, including explicit and implicit government assets and liabilities, can provide far more information than short-term deficit targets alone.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Mohr Siebeck, Tübingen in its journal FinanzArchiv.
Volume (Year): 65 (2009)
Issue (Month): 4 (December)
Contact details of provider:
Web page: http://www.mohr.de/fa
Postal: Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany
Find related papers by JEL classification:
- H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Henning Bohn, 2010.
"The Economic Consequences of Rising U.S. Government Debt: Privileges at Risk,"
CESifo Working Paper Series
3079, CESifo Group Munich.
- Henning Bohn, 2011. "The Economic Consequences of Rising U.S. Government Debt: Privileges at Risk," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 67(3), pages 282-302, September.
- Bohn, Henning, 2010. "The Economic Consequences of Rising U.S. Government Debt: Privileges at Risk," University of California at Santa Barbara, Economics Working Paper Series qt7kz6v3zs, Department of Economics, UC Santa Barbara.
- Shafik Hebous, 2011.
"The Effects Of Discretionary Fiscal Policy On Macroeconomic Aggregates: A Reappraisal,"
Journal of Economic Surveys,
Wiley Blackwell, vol. 25(4), pages 674-707, 09.
- Hebous, Shafik, 2009. "The Effects of Discretionary Fiscal Policy on Macroeconomic Aggregates: A Reappraisal," MPRA Paper 23300, University Library of Munich, Germany, revised Jun 2010.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Wolpert).
If references are entirely missing, you can add them using this form.