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Debt Projections and Fiscal Sustainability with Feedback Effects

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dc.contributor.author Creedy, John
dc.contributor.author Scobie, Grant
dc.date.accessioned 2015-09-21T20:34:32Z
dc.date.accessioned 2022-07-07T02:33:22Z
dc.date.available 2015-09-21T20:34:32Z
dc.date.available 2022-07-07T02:33:22Z
dc.date.copyright 2015
dc.date.issued 2015
dc.identifier.uri https://ir.wgtn.ac.nz/handle/123456789/19354
dc.description.abstract This paper analyses long-term fiscal sustainability with a model which incorporates a number of feedback effects. When fiscal policy responds to ensure long-term sustainability, these feedback effects can potentially modify the intended outcomes by either enhancing or dampening the results of the policy interventions. The feedbacks include the effect on labour supply in response to changes in tax rates, changes in the country risk premium in response to higher public debt ratios, and endogenous changes in the rate of productivity growth and savings that respond to interest rates. A model of government revenue, expenditure and public debt which incorporates these feedbacks is used to simulate the outcome of a range of fiscal policy responses. In addition the effects of population ageing and productivity growth are explored. en_NZ
dc.format pdf en_NZ
dc.language.iso en_NZ
dc.publisher Te Herenga Waka—Victoria University of Wellington en_NZ
dc.relation.ispartofseries Working Papers in Public Finance ; 10/2015 en_NZ
dc.subject Fiscal sustainability en_NZ
dc.subject Public debt en_NZ
dc.subject Long-term projections en_NZ
dc.subject Fiscal policy en_NZ
dc.title Debt Projections and Fiscal Sustainability with Feedback Effects en_NZ
dc.type Text en_NZ
vuwschema.contributor.unit School of Accounting and Commercial Law en_NZ
vuwschema.subject.anzsrcfor 140212 Macroeconomics (incl. Monetary and Fiscal Theory) en_NZ
vuwschema.type.vuw Working or Occasional Paper en_NZ
vuwschema.subject.anzsrcforV2 380112 Macroeconomics (incl. monetary and fiscal theory) en_NZ
dc.rights.rightsholder www.victoria.ac.nz/sacl/about/cpf en_NZ

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