Long-Term Objectives for Government Debt
This 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.
Volume (Year): 65 (2009)
Issue (Month): 4 (December)
|Contact details of provider:|| Web page: http://www.mohr.de/fa|
|Order Information:|| Postal: Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany|
When requesting a correction, please mention this item's handle: RePEc:mhr:finarc:urn:sici:0015-2218(200912)65:4_472:lofgd_2.0.tx_2-t. See general information about how to correct material in RePEc.
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.