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Fiscal Adjustment in EU Countries: A Balance Sheet Approach Author info | Abstract | Publisher info | Download info | Related research | Statistics Kenji Moriyama
Gian Maria Milesi-Ferretti
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Several European Union countries have recently implemented or are envisaging fiscal that operations improve budgetary figures but have no structural impact on government finances. This paper evaluates some of these measures using a balance sheet approach. In particular, it examines the degree to which reductions in government debt in EU countries has been accompanied by a decumulation of government assets. In the run-up to Maastricht (1997) it finds a strong correlation between changes in government liabilities and government assets, and larger declines in government assets in countries starting from higher public debt levels.
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Paper provided by International Monetary Fund in its series IMF Working Papers with number
04/143.
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Length: 25 pages
Date of creation: 17 Aug 2004Date of revision:
Handle: RePEc:imf:imfwpa:04/143Contact details of provider: Postal: International Monetary Fund, Washington, DC USA Phone: (202) 623-7000 Fax: (202) 623-4661 Email: Web page: http://www.imf.org/external/pubind.htm More information through EDIRC
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Keywords: Fiscal reforms European Union Debt Privatization Government expenditures Other versions of this item:
This paper has been announced in the following NEP Reports :
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