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Government Debt Iceberg.

Nobody who has even a passing acquaintance with economics could fail to realise that Western governments are highly indebted. Current generations have been consuming at the expense of future generations. However, just how indebted are we? The government measures how much it has borrowed to meet past...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Gokhale, Jagadeesh
Formato: Electrónico eBook
Idioma:Inglés
Publicado: London Publishing Partnership, 2014.
Temas:
Acceso en línea:Texto completo

MARC

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100 1 |a Gokhale, Jagadeesh. 
245 1 0 |a Government Debt Iceberg. 
260 |b London Publishing Partnership,  |c 2014. 
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505 0 |a The author; Foreword; Acknowledgement and note on sources; Summary; Tables and figures; _GoBack; Introduction; Why we need forward-looking measures of government finances; The inter-generational tensions; The extent of government indebtedness; The fiscal environment in Europe and the United States; Figure 1US federal debt as percentage of GDP; Figure 2EU gross debt as percentage of GDP; The fiscal background in the euro zone; Fiscal conditions in United Kingdom; Fiscal conditions in the United States; Population ageing in Europe and the United States. 
505 8 |a Figure 3Age dependency ratios in the EU, the UK and the USThe why and how of fiscal and generational imbalance calculations; Government off-balance-sheet borrowing; Understanding the inter-generational transfers; Figure 4Inter-generational transfers in pay-as-you-go systems; Can we afford pay-as-you-go programmes because our children will be richer?; Algebraic presentation of inter-generational accounting; Why calculate fiscal and generational imbalances?; How should fiscal imbalances be reported?; Fiscal policy under short-term and long-term fiscal metrics. 
505 8 |a Short-term fiscal metrics and the distortion of policyConstructing long-term fiscal and generational imbalance measures; Disaggregating the fiscal imbalance for the US; Current generations versus future generations: a stylised example; US public policy debates: caught in a prisoner's dilemma; US Congressional Budget Office's projections: 'baseline' versus 'alternative'; The generational implications of the CBO's ten-year budget projections: 2013-22; Table 1Potential changes to scheduled 'current law' fiscal policies. 
505 8 |a Table 2Ten-year generational accounts by selected age and gender: 2013-22 (present values of net taxes in 000s 2012 dollars)The long-term generational implications of baseline and alternative US fiscal paths; Table 3Lifetime generational accounts as of fiscal year 2013 by selected age and gender (present values of net taxes in 000s 2012 dollars); The US federal fiscal imbalance; Table 4The federal government's fiscal imbalance under baseline policies(beginning-of-fiscal-year present values in billions of constant 2012 dollars). 
505 8 |a Table 5The federal government's fiscal imbalance under alternative policies(beginning-of-fiscal-year present values in billions of constant 2012 dollars)Various methods of presenting the fiscal imbalance; Table 6The federal government's fiscal imbalance under baseline policies as a percentage of the present value of GDP (beginning-of-fiscal-year values); Table 7The federal government's fiscal imbalance under alternative policies as a percentage of the present value of GDP (beginning-of-fiscal-year values). 
520 8 |a Nobody who has even a passing acquaintance with economics could fail to realise that Western governments are highly indebted. Current generations have been consuming at the expense of future generations. However, just how indebted are we? The government measures how much it has borrowed to meet past spending commitments, but it does not measure how much money it needs to meet all the future pensions and healthcare promises it has made to tomorrow's older generations. Furthermore, no funds have been set aside to provide for these costs. Governments are allowed to produce accounting information in such a cavalier fashion, using methods that would be illegal for private sector companies. Fortunately, though, scholars have been able to examine the detail of government policy and the financial commitments of future governments in order to determine just how indebted we are. This IEA publication brings such calculations to life by showing by how much spending will need to be cut and taxes raised in order to make the government's fiscal position sustainable. This work should be of interest to politicians, to students and teachers of economics and, indeed, all who are interested in public policy and the sustainability of Western economies. 
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650 0 |a Debts, Public  |z Western countries. 
650 0 |a Debts, Public  |z Developed countries. 
651 0 |a Western countries  |x Economic conditions  |y 21st century. 
651 0 |a Developed countries  |x Economic conditions  |y 21st century. 
651 0 |a Western countries  |x Economic policy. 
651 0 |a Developed countries  |x Economic policy. 
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650 6 |a Dettes publiques  |z Pays industrialisés. 
651 6 |a Pays industrialisés  |x Politique économique. 
651 6 |a Occident  |x Conditions économiques  |y 21e siècle. 
651 6 |a Occident  |x Politique économique. 
650 7 |a Debts, Public  |2 fast 
650 7 |a Economic history  |2 fast 
650 7 |a Economic policy  |2 fast 
651 7 |a Developed countries  |2 fast 
651 7 |a Western countries  |2 fast 
648 7 |a 2000-2099  |2 fast 
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