Sustainable fiscal policy and economic stability
theory and practice
- ISBN: 9781843766322
- Editorial: Edward Elgal Publishing Limited
- Fecha de la edición: 2004
- Lugar de la edición: Cheltenham. None
- Colección: New directions in modern economics
- Encuadernación: Cartoné
- Medidas: 24 cm
- Nº Pág.: 232
- Idiomas: Inglés
The public debt/GDP ratio in several countries showed the largest ever peacetime increase during the last 20 years of the twentieth century, thereby causing widespread fiscal unsustainability. Towards the latter half of the 1990s, several governments initiated steps to reverse this trend however, they frequently found that their policies were not always successful. This book examines why. Contents: 1. Introduction 2. Fiscal Sustainability: The Origin, Development and Nature of the Issue 3. The Roots of Mainstream Theory on Fiscal Sustainability 4. The General Balance Framework 5. Fiscal and Financial Sustainability and the Nature of Expectations, Markets and Preferences 6. Economic Instability as Spreading Unsustainability 7. Towards More Sophisticated Policy Rules to Establish Fiscal Sustainability 8. Conclusion Bibliography Index
