Moriyama, Kenji; Milesi-Ferretti, Gian-Maria - International Monetary Fund (IMF) - 2004
figures but have no structural impact on government finances. This paper evaluates some of these measures using a balance … sheet approach. In particular, it examines the degree to which reductions in government debt in EU countries has been … accompanied by a decumulation of government assets. In the run-up to Maastricht (1997) it finds a strong correlation between …