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Fiscal Adjustment in EU Countries A Balance Sheet Approach

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 whi...

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Bibliographic Details
Main Author: Moriyama, Kenji
Other Authors: Milesi-Ferretti, Gian
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2004
Series:IMF Working Papers
Subjects:
Fiscal Stance
Public Administration
Public Debt
Budget Systems
Government Liabilities
Public Finance & Taxation
Financial Statements
Debt Management
Debts, Public
Fiscal Policy
Debt
Budget Planning And Preparation
Budgeting
Sovereign Debt
Accounting
Finance, Public; Accounting
Public Sector Accounting And Audits
Budget
Macroeconomics
Financial Reporting, Financial Statements
Budgeting & Financial Management
National Budget
Public Finance
Greece
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Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary: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
Physical Description:25 pages
ISBN:9781451856378

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