The Measurement of Government Debt in the Economic and Monetary Union

Fiscal Gimmickry in Europe

“…At present, Greece, Ireland and Luxembourg do not compile and transmit financial balance sheet data to the European Commission (Mink and Rodriguez-Vives, 2004 This could be a first step towards a generalisation of the treatment that was applied to UMTS licences. While difficult to operationalise, such an approach is to some extent already being followed by Denmark and Sweden in their annual convergence programmes and by the US Congressional Budget Office (CBO), which calculates a so-called standardised budget balance adjusting not just for the cycle but also for a number of special factors, including temporary legislative changes in the timing of revenues and outlays, asset sales and receipts from auctions of licences (CBO, 2004).…”

Assessing Fiscal Soundness: Theory and Practice

“…The crisis dates for countries that experienced a sovereign debt crisis were taken from Roubini and Setser (2004). (2000) 7 Turkey (2000) 8 Brazil (2002) 9 Belgium (1994) 10 Italy (1994) 11 Lebanon (2003) 12 Greece (2001) 13 Japan (2005) 17 See also Mink and Rodriguez-Vives (2004) for a discussion of the debt concept from a statistical perspective.…”

Assessing Fiscal Soundness: Theory and Practice

“… Brazil (2002) 9Belgium (1994) 10 Italy (1994) 11 Lebanon (2003 12Greece (2001) 13Japan (2005) 17 See alsoMink and Rodriguez-Vives (2004) for a discussion of the debt concept from a statistical perspective.…”