Artikel
Finland's public sector balance sheet
We construct comprehensive public sector balance sheets for Finland for 2000-2016 by complementing general government statistics with data on public corporations and pensions. These static balance sheets show that Finland's public sector net worth at end 2016 was - 160 percent of GDP, after having registered considerable fluctuations previously, including due to asset holdings' sensitivity to equity valuations. We then expand the analysis to an intertemporal balance sheet by adding present value estimates of future fiscal flows. This allows performing fiscal stress tests and policy experiments. These suggest that Finland's public finances will remain sound if ongoing reform efforts to address aging pressures yield their expected savings. Under this assumption, intertemporal financial net worth (IFNW) of the public sector would exceed 50 percent of GDP - well within the 30-85 percent of GDP range derived in stress tests as the needed buffer to maintain positive IFNW in light of a severe shock.
- Language
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Englisch
- Bibliographic citation
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Journal: Baltic Journal of Economics ; ISSN: 2334-4385 ; Volume: 19 ; Year: 2019 ; Issue: 1 ; Pages: 176-194 ; London: Taylor & Francis
- Classification
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Wirtschaft
Public Economics: General
Social Security and Public Pensions
National Budget, Deficit, and Debt: General
National Debt; Debt Management; Sovereign Debt
Forecasts of Budgets, Deficits, and Debt
State and Local Government: Health; Education; Welfare; Public Pensions
Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts
- Subject
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debt sustainability
Finland
intertemporal fiscal balances
Public sector balance sheet
- Event
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Geistige Schöpfung
- (who)
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Brede, Maren
Henn, Christian
- Event
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Veröffentlichung
- (who)
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Taylor & Francis
- (where)
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London
- (when)
-
2019
- DOI
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doi:10.1080/1406099X.2019.1585062
- Handle
- Last update
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10.03.2025, 11:41 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Brede, Maren
- Henn, Christian
- Taylor & Francis
Time of origin
- 2019
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