Decomposition of Debt - GDP Ratio for United Kingdom : 1984 - 2009 ∗
نویسنده
چکیده
Most advanced nations today are witnessing a peace-time public debt surge that match post World War levels. This raises concerns about fiscal financing and liquidation of the stock of debt specially in the face of changing demographics. United Kingdom being one of the advanced nations with a high level of public debt and an aging population is facing similar issues of fiscal financing. This paper attempts to decompose the evolution in the debt-to-GDP ratio of UK between 1984-2009 into nominal returns, inflation, GDP growth rate and primary deficit. The results of the decomposition show that the government of UK did inflate away part of the debt but most of the adjustments was due to the low interest rates and the changes in the primary deficit.
منابع مشابه
The Macroeconomic Effects of Government Debt in Iran
One of the major problems in Iranian economy is continuous deficit in the budget operating balance due to the non-optimal government size. The government often financed a part of this deficit by debt cearation. Government debts depends on its size and decomposition have variety macroeconomic effects. So, this study investigated the macroeconomic effects of government debt in iran during 1352-13...
متن کاملUK and Twenty Comparable Countries GDP-Expenditure-on-Health 1980-2013: The Historic and Continued Low Priority of UK Health-Related Expenditure
It is well-established that for a considerable period the United Kingdom has spent proportionally less of its gross domestic product (GDP) on health-related services than almost any other comparable country. Average European spending on health (as a % of GDP) in the period 1980 to 2013 has been 19% higher than the United Kingdom, indicating that comparable countries give far greater fiscal prio...
متن کاملAssessment and Measurement of Fiscal Condition Index for Iran
This paper presents a framework for assessing the fiscal condition index (FCI) and develops a concept to assess fiscal condition of governments and implements it into Iran government as an oil exporting country. The concept consists of four dimensions -revenue, expenditure, budget balance, and debt structure-and each dimension has its own indicators. There are seven indicators examined namely ...
متن کاملThe Canadian Experience in Reducing Budget Deficits and Debt
Our general pattern of deficits and debt has much in common with that of many other Organization for Economic Cooperation and Development (OECD) countries, including the United States—that is, a very high ratio of debt to GDP coming out of the Second World War, followed by a rapid decline of the debt ratio as the military was demobilized, as economic growth took off, and as the effective intere...
متن کاملModelling, simulation and control of macro economic systems
The assignment in this report is motivated by the current financial crisis, which equally, or maybe even more accurately should be called a debt crisis. The research problem to be solved in this report is therefore to assess four conceptual different macroeconomic systems, including today’s Basel-type banking system, to find advantages and disadvantages in these systems compared to each other. ...
متن کامل