Prudent debt targets and fiscal frameworks

"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 a...

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Bibliographic Details
Main Authors: Fall, Falilou, Bloch, Debra, Fournier, Jean-Marc, Hoeller, Peter
Institution:ETUI-European Trade Union Institute
Format: TEXT
Language:English
Published: Paris 2015
OECD
Subjects:
Online Access:https://www.labourline.org/KENTIKA-19111538124919397109-Prudent-debt-targets-and-fisca.htm
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author Fall, Falilou
Bloch, Debra
Fournier, Jean-Marc
Hoeller, Peter
author_facet Fall, Falilou
Bloch, Debra
Fournier, Jean-Marc
Hoeller, Peter
collection Library items
description "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."
format TEXT
geographic OECD countries
id 19111538124919397109_602283cce93c4014bc64b5f195331c6a
institution ETUI-European Trade Union Institute
is_hierarchy_id 19111538124919397109_602283cce93c4014bc64b5f195331c6a
is_hierarchy_title Prudent debt targets and fiscal frameworks
language English
physical 56 p.
Digital
publishDate 2015
publisher Paris
OECD
spellingShingle Fall, Falilou
Bloch, Debra
Fournier, Jean-Marc
Hoeller, Peter
fiscal policy
government policy
macroeconomics
public debt
Prudent debt targets and fiscal frameworks
thumbnail https://www.labourline.org/Image_prev.jpg?Archive=108978092615
title Prudent debt targets and fiscal frameworks
topic fiscal policy
government policy
macroeconomics
public debt
url https://www.labourline.org/KENTIKA-19111538124919397109-Prudent-debt-targets-and-fisca.htm