Effects on National Net Wealth

James Perkins

Chapter 6 in Budget Deficits and Macroeconomic Policy, 1997, pp 78-102 from Palgrave Macmillan

Abstract: Abstract A third possible macroeconomic objective (in addition to those of holding down inflation and holding up real output or employment) may be termed ‘changes in the country’s net wealth’. That is to say, changes in its stock of useful productive capital plus or minus its net liabilities owed to or assets held in other countries. It is reasonable for a government to include this as one macroeconomic objective, for it measures the contribution of policy to determining how much the present generation is handing on to future generations by way of a larger stock of productive capital, net of debts owed to other countries (or plus assets held in other countries).

Keywords: Current Account; Government Outlay; Private Investment; Budget Deficit; Budget Balance (search for similar items in EconPapers)
Date: 1997
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DOI: 10.1057/9780230373280_6

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