01674cas a2200241 a 4500 AALejournalIMF008012 230101c9999 xx r poo 0 0eng d 15.00 USD 9781451930757 1020-7635 BD-DhAAL BD-DhAAL International Monetary Fund. Research Dept. IMF Staff papers : Volume 36 No. 4. Washington, D.C. : International Monetary Fund, 1989. 1 online resource (240 pages) IMF Staff 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 Two recent criticisms of summary fiscal indicators are appraised: first, that they and the conventionally measured public sector balances from which they are derived are not sufficiently broadly defined; second, that they are meaningless because they do not reflect changes in the distribution of wealth between generations. The paper concludes that the defects of summary fiscal indicators have been exaggerated. It is not feasible to include all changes in public sector net worth in the deficit, and the existence of liquidity constraints and aversion to indebtedness imply that conventionally measured public sector deficits are not irrelevant. Mode of access: Internet IMF Staff Papers; IMF Staff Papers ; No. 1989/004 Full text available on IMF http://elibrary.imf.org/view/journals/024/1989/004/024.1989.issue-004-en.xml IMF e-Library