Prudent debt targets and fiscal frameworks / this paper has been prep. by: Falilou Fall; Debbie Bloch; Jean-Marc Fournier; Peter Hoeller
Contributor(s): Resource type: Ressourcentyp: Buch (Online)Book (Online)Language: English Series: OECD. OECD economic policy papers ; 15Publisher: Paris : OECD, 2015Description: Online-Ressource (56 S.) : graph. DarstSubject(s): Genre/Form: DOI: DOI: 10.1787/5jrxtjmmt9f7-enOnline resources: Summary: The sharp rise in debt experienced by most OECD countries raises questions about debt indicators and the prudent government debt level countries should target. It also raises questions about the fiscal frameworks needed to reach the prudent debt level and to accommodate cyclical fluctuations along the convergence path towards a prudent debt target. The objective of this paper is to define long-run prudent debt targets for OECD countries and country-specific fiscal rules. The paper presents a comprehensive analysis of government liabilities and assets and formulates recommendations for debt indicators. It also reviews the different linkages between government debt and the economic activity. The lessons from these analyses are combined with an assessment of the uncertainties surrounding the development of macroeconomic variables to define a prudent debt target. Different fiscal rules are compared with regard their impact on fiscal discipline and the risk of recession for country-specific fiscal rules recommendations.PPN: PPN: 841413290Package identifier: Produktsigel: ZDB-13-SOC | ZDB-13-SOC-ebookNo physical items for this record
Systemvoraussetzungen: PDF Reader.