01821cas a2200241 a 4500 AALejournalIMF016767 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475552829 1018-5941 BD-DhAAL BD-DhAAL Irwin, Timothy. Dispelling Fiscal Illusions : How Much Progress Have Governments Made in Getting Assets and Liabilities on Balance Sheet? / Timothy Irwin. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (17 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 When rights and obligations are not recognized as assets and liabilities on a government's balance sheet, the government's deficit can be reduced by selling off-balance-sheet assets or incurring off-balance-sheet liabilities. This paper examines how much progress has been made in recognizing assets and liabilities and thus dispelling the fiscal illusions that such transactions create. Looking at the accounts, government-finance statistics, and long-term fiscal projections produced in 28 advanced economies in the period since 2003, it finds good progress in the recognition of some assets and liabilities, such as accounts payable and simple financial assets, but much less in others, such as civil-service pensions. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2016/095 Full text available on IMF http://elibrary.imf.org/view/journals/001/2016/095/001.2016.issue-095-en.xml IMF e-Library