English, Article, Journal or magazine article edition: Public Debt in a Medium-Term Context and Its Implications for Fiscal Policy Jean-Claude Chouraqui; Brian Jones; Robert Bruce Montador

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Bookmark: http://trove.nla.gov.au/version/136470
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Public Debt in a Medium-Term Context and Its Implications for Fiscal Policy
Author
  • Jean-Claude Chouraqui
  • Brian Jones
  • Robert Bruce Montador
Physical Description
  • preprint
Notes
  • This paper examines the problems raised by the recent sharp increases in the ratio of public debt to GNP in most OECD Member countries. When interest rates exceed growth rates, this development appears as a symptom of instability in public finances. The paper also analyses the evolution of public debt within the wider framework of the government sector's net worth. One particular aspect of this approach -- the implicit pension liabilities of governments -- is seen to have a significant bearing on the debt outlook in several countries. Finally, the paper assesses the sensitivity of the public debt profile under alternative fiscal policy settings ... Ce document examine les problèmes posés par l'accroissement rapide de la dette publique par rapport au PNB dans la plupart des pays membres de l'OCDE au cours des dernières années. Lorsque les taux d'intérêt excèdent le taux de croissance économique, une telle situation apparaît comme un facteur d'instabilité des finances publiques. L'évolution de la dette publique est également analysée dans l'optique plus large de l'ensemble des actifs et passifs du secteur public. A cet égard, il ressort notamment que les engagements implicites des administrations au titre des retraites futures affectent de manière très importante les perspectives de la dette publique dans plusieurs pays. L'étude apprécie enfin dans quelle mesure des changements d'orientation de la politique budgétaire peuvent influer sur le profil de la dette publique ...
  • RePEc:oec:ecoaaa:30-en
Language
  • English
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