IDEAS home Printed from https://ideas.repec.org/a/bla/econpa/v28y2009i2p121-129.html
   My bibliography  Save this article

What Future for the Future Fund?

Author

Listed:
  • Anthony J. Makin

Abstract

This paper questions the rationale for the Future Fund. Contrary to existing policy, it proposes that further budgetary contributions needed to meet the Australian Government’s future superannuation liabilities be sourced from the expenses side of the federal budget on a predetermined basis, rather than until recently from budget surpluses ex post. New general formulae are derived for estimating the magnitude of annual budgetary contributions required to stabilise, as well as fully cover, unfunded liabilities many years ahead. Illustrative estimates are then provided of federal budgetary contributions needed to cover the Australian Government’s unfunded superannuation liabilities. The paper concludes by suggesting that the superannuation‐related activities of the Future Fund be wound up with the transfer of its assets to the trustees of existing government superannuation funds.

Suggested Citation

  • Anthony J. Makin, 2009. "What Future for the Future Fund?," Economic Papers, The Economic Society of Australia, vol. 28(2), pages 121-129, June.
    • Handle: RePEc:bla:econpa:v:28:y:2009:i:2:p:121-129
    DOI: 10.1111/j.1759-3441.2009.00012.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1759-3441.2009.00012.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1759-3441.2009.00012.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Olivier Jean Blanchard, 1990. "Suggestions for a New Set of Fiscal Indicators," OECD Economics Department Working Papers 79, OECD Publishing.
    2. Hana Polackova Brixi & Allen Schick, 2002. "Government at Risk : Contingent Liabilities and Fiscal Risk," World Bank Publications - Books, The World Bank Group, number 15233, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kazakova, Maria & Nesterova, Kristina, 2015. "Long-Term Forecast of the Main Parameters of the Budgetary System of Russia," Published Papers 2309, Russian Presidential Academy of National Economy and Public Administration.
    2. Kazakova, Maria & Trunin, Pavel, 2015. "Long-Term Prognosis of Basic Demographic and Macroeconomic Indicators in Russia," Published Papers 2308, Russian Presidential Academy of National Economy and Public Administration.
    3. Jakob Korbinian Eberl, 2016. "The Collateral Framework of the Eurosystem and Its Fiscal Implications," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 69.
    4. Bodrova, Vera & Gvozdeva, Margarita & Kazakova, Maria, 2015. "Methods of Long-term Forecasting: Comparative Analysis and Foreign Experience of Applying," Published Papers 2310, Russian Presidential Academy of National Economy and Public Administration.
    5. Delorme, Francois, 2014. "Viabilité et vulnérabilité des finances publiques du Québec à moyen terme : une proposition d’un cadre d’analyse et une évaluation [Sustainability and vulnerability of Québec's public finances in t," MPRA Paper 85050, University Library of Munich, Germany.
    6. Goryunov, Yevgeniy (Горюнов, Евгений), 2016. "Theoretical foundations, properties and interpretation of the budget gap indicators [Теоретические Основы, Свойства И Интерпретация Индикаторов Бюджетного Разрыва]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 2, pages 112-132, April.
    7. Sergey Sinelnikov-Murylev & Eugene Goryunov & Laurence Kotlikoff, 2015. "Theoretical foundations of fiscal gap as a long-term fiscal sustainability indicator and its estimates for Russia," Research Paper Series, Gaidar Institute for Economic Policy, issue 168P, pages 1-58.
    8. Paunovic, Igor, 2005. "Public debt sustainability in the northern countries of Latin America," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.
    9. D’Erasmo, P. & Mendoza, E.G. & Zhang, J., 2016. "What is a Sustainable Public Debt?," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 2493-2597, Elsevier.
    10. Gossé, Jean-Baptiste & Guillaumin, Cyriac, 2013. "L’apport de la représentation VAR de Christopher A. Sims à la science économique," L'Actualité Economique, Société Canadienne de Science Economique, vol. 89(4), pages 309-319, Décembre.
    11. Alex Hathaway & Carolyn Bourdeaux & Emily Franklin, 2019. "Fiscal Transparency and Accountability," Center for State and Local Finance Working Paper Series cslf1912, Andrew Young School of Policy Studies, Georgia State University.
    12. Marco BUTI & Daniele FRANCO & Hedwig ONGENA, 1997. "Budgeetary Policies during Recessions : Retrospective Application of the Stability and Growth Pact” to the Post-War Period," Discussion Papers (REL - Recherches Economiques de Louvain) 1997041, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    13. World Bank, 2005. "Dominica : OECS Fiscal Issues, Policies to Achieve Fiscal Sustainability and Improve Efficiency and Equity of Public Expenditures," World Bank Publications - Reports 8681, The World Bank Group.
    14. Volker Meier & Martin Werding, 2010. "Ageing and the welfare state: securing sustainability," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 26(4), pages 655-673, Winter.
    15. Ronald D. Kneebone & Kenneth J. McKenzie, 1999. "The Characteristics of Fiscal Policy in Canada," Canadian Public Policy, University of Toronto Press, vol. 25(4), pages 483-501, December.
    16. Christoph Trebesch & Mr. Michael G. Papaioannou & Mr. Udaibir S Das, 2012. "Sovereign Debt Restructurings 1950-2010: Literature Survey, Data, and Stylized Facts," IMF Working Papers 2012/203, International Monetary Fund.
    17. Aristovnik, Aleksander, 2008. "How sustainable are fiscal deficits? Evidence from Mediterranean countries," MPRA Paper 12317, University Library of Munich, Germany.
    18. Herrera Dappe,Matias & Musacchio,Aldo & Pan,Carolina & Semikolenova,Yadviga Viktorivna & Turkgulu,Burak & Barboza,Jonathan, 2022. "Smoke and Mirrors : Infrastructure State-Owned Enterprises and Fiscal Risks," Policy Research Working Paper Series 9970, The World Bank.
    19. Timothy C. Irwin, 2015. "Defining The Government'S Debt And Deficit," Journal of Economic Surveys, Wiley Blackwell, vol. 29(4), pages 711-732, September.
    20. Mr. Philippe D Karam & Mr. Douglas Hostland, 2005. "Assessing Debt Sustainability in Emerging Market Economies Using Stochastic Simulation Methods," IMF Working Papers 2005/226, International Monetary Fund.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:econpa:v:28:y:2009:i:2:p:121-129. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/esausea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.