Fiscal Management

Toshihiro Ihori
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Toshihiro Ihori: National Gradual Institute for Policy Studies

Chapter 6 in Principles of Public Finance, 2017, pp 139-168 from Springer

Abstract: Abstract Government spending may be financed by taxes or public debt issuance. Government deficit is the difference between tax revenue and spending. The deficit is financed by public debt issuance, which involves borrowing money from the private sector. Many developed countries, including Japan, have suffered from fiscal deficits for many years. They have accumulated a large amount of public debt outstanding. In this chapter, we investigate the positive and normative aspects of fiscal management with deficits and public debt issuance, based on the analytical results of prior chapters.

Keywords: Fiscal discipline; Deficit-covering debt; Balanced-budget policy; Biased Keynesian policy; Compensation policy; Smoothing hypothesis of taxes over time; Zero tax nation; Counter-cyclical fiscal policy; Dynamic government budget constraint; Domar condition; Bohn condition; Primary balance; Sustainability of fiscal management; Fiscal consolidation; Legal commitments (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-981-10-2389-7_6

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DOI: 10.1007/978-981-10-2389-7_6

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