01764cas a2200241 a 4500 AALejournalIMF010075 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451967111 1018-5941 BD-DhAAL BD-DhAAL International Monetary Fund. Government Contingent Liabilities and the Measurement of Fiscal Impact. Washington, D.C. : International Monetary Fund, 1990. 1 online resource (40 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 Conventional fiscal accounting methodologies do not appropriately account for governments' noncash policies, such as their contingent liabilities. When these liabilities are called, budget costs can be large, as evidenced by the United States' saving and loan crisis. In general, deficit measures may underestimate the macroeconomic impact of government policies, promoting the substitution of noncash for cash expenditure and increasing future financing requirements. The paper describes extended deficit measures to address the problem, but notes their limited practical value. Nonetheless, some alternative methods of valuing contingent liabilities are proposed to gauge fiscal impact and facilitate budgetary control. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1990/057 Full text available on IMF http://elibrary.imf.org/view/journals/001/1990/057/001.1990.issue-057-en.xml IMF e-Library