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The method is illustrated by generational accounts for France and a cross-country comparison of implicit public liabilities in Europe.
Both Greece and Ireland are carrying heavy public liabilities denominated in a currency (the euro) that they cannot print.
Guernsey has no national debt, zero borrowing, fully funded public liabilities and unencumbered property assets of over £1.5bn.
The composition of public liabilities as between debt and monetary base does matter in normal times — hey, if it didn't, the Fed would have no influence, ever.
That is why the government-bond yield is the appropriate measure for discounting public liabilities, as Messrs Rauh and Novy-Marx assert.The Bank of England recognises this issue.
Portugal reduced its deficit in 2010 and 2011 by taking over pension assets from private companies without recognising the new public liabilities.
Similar(50)
"And we didn't even have public liability insurance!" *.
Shops have to have public liability insurance to protect their customers.
Airtasker provides public liability insurance for third-party injury and property damage.
If your business involves customers coming to your home, you will also need public liability insurance.
Whatever caused it, the fact is that it has to remain a public liability.
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