Novel Government Debt Indicator: Government Debt to Net Wealth of Households

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F15%3A00082290" target="_blank" >RIV/00216224:14560/15:00082290 - isvavai.cz</a>
Alternative codes found
RIV/61384399:31140/15:00045557
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Novel Government Debt Indicator: Government Debt to Net Wealth of Households
Original language description
Government debt is one of the most important variables monitored in the European economies of 21th century. Due to Euro Convergence Criteria, it is most often calculated as a ratio of government debt-to-Gross Domestic Product (D/GDP). However, this ratiodoes not have clear economic interpretation and is difficult to understand for the common voter. In this paper, we suggest a new, more appropriate indicator ? Government debt-to-Net Wealth of Households (D/NWH), which is inspired by the one-off wealth tax. Using high quality data from the Czech Statistical Office, Eurostat and Wiener Institut für Internationale Wirtschaftsvergleiche the debt burden imposed on the every Czech household was computed. While in 1995 the D/NWH was less than 7%, it has morethan tripled by the end of 2012. If the Czech Republic was to repay its government debt immediately, it would have to impose a one-off tax of a quarter of the every household?s wealth.
Czech name
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Czech description
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Publication year
2015
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Current Trends in Public Sector Research - the 19th International Conference
ISBN
9788021075320
ISSN
2336-1239
e-ISSN
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Number of pages
7
Pages from-to
110-116
Publisher name
Masarykova univerzita
Place of publication
Brno
Event location
Šlapanice
Event date
Jan 22, 2015
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
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