Template-Type: ReDIF-Article 1.0
Author-Name: Sergey Sinelnikov-Murylev 
Author-Name-First:  Sergey          
Author-Name-Last: Sinelnikov-Murylev
Author-Workplace-Name: Russian Foreign Trade Academy
Author-Name: Eugene Goryunov
Author-Name-First:  Eugene          
Author-Name-Last: Goryunov
Author-Workplace-Name: Gaidar Institute for Economic Policy
Author-Name: Laurence Kotlikoff 
Author-Name-First:  Laurence            
Author-Name-Last: Kotlikoff
Author-Workplace-Name: Boston University
Title:   Theoretical foundations of fiscal gap as a long-term fiscal sustainability indicator and its estimates for Russia 
Abstract: Fiscal gap is an indicator of long run sustainability of government finance. It is used for assessment of the extent to which current fiscal policy is able to keep government budget solvent in the longer period. Fiscal gap is derived from intertemporal budget constraint which connects flows of budget outlays and receipts aggregated along decades. Fiscal gap is defined as a sum of current government debt and present value of future primary deficit flow. In order to get an estimate of Russia’s general government fiscal gap we consider
three scenarios which are based on different assumptions regarding demographic trends,
productivity growth, extractable reserves of oil and natural gas, long term price of oil and natural gas etc.
Pages:  58 
Year: 2015
Issue: 168P
Classification-JEL: E62, H51, H52, H55, H62, H63, H68, J11
Keywords: Russian economy, public finance, budget sustainability, fiscal gap, budget spending, 
File-URL: http://www.iep.ru/files/RePEc/gai/rpaper/125Sinelnikov.pdf
File-Format: Application/pdf
File-Function: Revised version, 2015
Handle: RePEc:gai:rpaper:125
Language:ru