Looking to the Future: The Comprehensive Balance Sheet

Ian Ball, Willem Buiter, John Crompton, Dag Detter and Jacob Soll

Chapter 8 in Public Net Worth, 2024, pp 97-109 from Springer

Abstract: Abstract So far, we have argued that without a complete conventional balance sheet – one that accounts for and properly values all assets and liabilities – a rational allocation of fiscal resources at a point in time and over time is impossible. In this chapter we argue for the use of the comprehensive balance sheet or intertemporal budget constraint of the state - the consolidated general government and central bank - to address the sustainability of the public finances. It is based on the conventional balance sheet, and adds as an implicit asset the present value of future primary revenues, including seigniorage, and as an implicit liability the present value of future primary expenditures.

Date: 2024
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-44343-5_8

Ordering information: This item can be ordered from
http://www.springer.com/9783031443435

DOI: 10.1007/978-3-031-44343-5_8

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().