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

Kód výsledku v 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>

Nalezeny alternativní kódy

RIV/61384399:31140/15:00045557

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

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

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

BB - Aplikovaná statistika, operační výzkum

OECD FORD obor

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Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2015

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

Current Trends in Public Sector Research - the 19th International Conference

ISBN

9788021075320

ISSN

2336-1239

e-ISSN

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Počet stran výsledku

7

Strana od-do

110-116

Název nakladatele

Masarykova univerzita

Místo vydání

Brno

Místo konání akce

Šlapanice

Datum konání akce

22. 1. 2015

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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