Эксоцман
на главную поиск contacts

Notes on "A Code for Fiscal Stability"

Опубликовано на портале: 29-08-2003
2003
This note comments on two central issues for fiscal policy design in the UK, highlighted in the recent Code for Fiscal Stability' proposed by the new Labour government. The first concerns the merits of the so-called golden rule of public sector investment' -- the proposition that, over the cycle, government borrowing should not exceed government capital formation. The second concerns the case for attempting to construct a more comprehensive balance sheet of public sector assets and liabilities, including tangible public sector assets and certain contingent claims. The two main conclusions are that the golden rule is without merit but that, subject to some important caveats, the construction of a more comprehensive government balance sheet is a worthwhile enterprise.

Ключевые слова

См. также:
Giancarlo Corsetti, Nouriel Roubini
[Книга]
Alex Segura-Ubiergo, Alejandro Simone, Sanjeev Gupta
IMF, Working Paper. 2006.  No. 06/244.
[Статья]
James Michael Poterba
[Книга]
Pritha Mitra
IMF, Working Paper. 2006.  No. 06/219.
[Статья]
William Easterly, Sergio Rebelo
NBER Working Paper Series. 1994.  w4499.
[Статья]