| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP13
|
| DP13 Measuring Aspects of Fiscal and Financial Policy |
| Willem Buiter
|
| 发表日期 | 1984-04-01
|
| 出版年 | 1984
|
| 语种 | 英语
|
| 摘要 | The paper develops a forward-looking comprehensive accounting framework for the public sector. By integrating the public sector budget constraint forward in time the government's present value budget constraint (PVBC) is obtained. In addition to the familiar financial assets and liabilities, comprehensive public sector net worth contains the following items: the value of the public sector capital stock; the value of public sector property rights in land and natural resources; the present value of future seigniorage, the present value of future taxes net of transfers and subsidies and the present value of future planned public sector capital formation, privatization or nationalization programmes. From the "stock" PVBC a number of different "flow" deficit concepts are derived; each one emphasizes a different aspect of the "sustainability" of current and/or prospective fiscal and financial plans. Together they provide a framework for organizing facts and plans about fiscal, financial and monetary policy and for evaluating the consistency of spending and revenue projections or scenarios, public sector debt objectives and monetary targets. |
| 主题 | International Macroeconomics
|
| 关键词 | Budget constraint
Financial policy
Fiscal policy
|
| URL | https://cepr.org/publications/dp13
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529169
|
推荐引用方式
GB/T 7714 |
Willem Buiter. DP13 Measuring Aspects of Fiscal and Financial Policy. 1984.
|
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