01714cas a2200241 a 4500 AALejournalIMF002287 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451842081 1018-5941 BD-DhAAL BD-DhAAL Horne, Jocelyn. Indicators of Fiscal Sustainability / Jocelyn Horne. Washington, D.C. : International Monetary Fund, 1991. 1 online resource (34 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper assesses the usefulness of summary measures of fiscal sustainability for the purpose of multilateral surveillance. An overview of the main conceptual issues is first presented. Next, an assessment is made of the strengths and weaknesses of the summary measures in the context of their recent application to industrial countries by the OECD and the Fund. The measures are shown to highlight the inadequacy of using trends in public debt ratios to assess sustainability. However, the measures and their recent application are subject to a number of caveats, in particular in relation to their sensitivity to the discount rate, time paths of government expenditures and private sector behavior. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1991/005 Full text available on IMF http://elibrary.imf.org/view/journals/001/1991/005/001.1991.issue-005-en.xml IMF e-Library