Why Public Assets are Key to Debt Sustainability: A Moral Goal
Posted by Ian Ball, Dag Detter, Yannis Manuelides, and Wang Yan[1]
Measures of a sustainable climate or even a healthy life are well understood and universally shared. Similar tools for measuring a sustainable economy and debt levels, using standard accrual accounting and budgeting techniques have been included in IMF manuals for more than two decades. Furthermore, IMF research has shown that countries with a stronger government net worth—total assets less liabilities—experience shallower recessions and recover faster in the aftermath of economic downturns.
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