Sovereign Net Worth: An Analytical Framework

Simon Bradbury, Jim Brumby and David Skilling

No 99/03, Treasury Working Paper Series from New Zealand Treasury

Abstract: The Fiscal Responsibility Act requires the Crown to articulate targets for a series of fiscal variables, including net worth. Given the dramatic improvement in the fiscal position in recent years, a critical policy question relates to how (and which) measures of Crown net worth should be targeted. This paper sets out a framework for targeting Crown net worth. It does so by supplementing the GAAP-based measure with forward-looking information about spending and tax revenue. The paper argues that targeting net worth for the Crown requires the estimation of a path, rather than a static level.

Pages: 45 pages
Date: 1999
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:nzt:nztwps:99/03

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