Report
GraSPP Research Seminar Series “Managing Public Wealth(analytical chapter from “The 2018 Fiscal Monitor”)” by Mr. Jason Harris from the Deputy Division Chief of the Public Financial Management Division of Fiscal Affairs Department, International Monetary Fund, was held on 27th November 2018 at the SMBC Academia Hall, 4F, International Academic Research Building, The University of Tokyo. Over 50 participants gathered the hall.
For the presentation contents, please refer to the link below.
https://www.imf.org/en/Countries/ResRep/~/media/DAF32B44BC0143CC9D5FE02DE1594039.ashx
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Date: Tuesday, 27 November
Time: 13:00-14:30
Speaker: Jason Harris, Deputy Division Chief of the Public Financial Management Division, Fiscal Affairs Department, IMF
Moderator: Manabu NOSE, Professor, Graduate School of Public Policy (GraSPP), The University of Tokyo
Venue: SMBC Academia Hall, 4F, International Academic Research Building, The University of Tokyo (map)
Co-hosted by IMF Regional Office for Asia and the Pacific
Registration: Needed. Please register from here
Abstract:
What governments own is just as important as what they owe. Yet most fiscal policy is focused on debt and deficits, with little information on public assets or non-debt liabilities. These assets are both large and consequential, explaining sovereign yields and the degree of economic resilience, and if managed better have the potential to boost revenues considerably.
The 2018 Fiscal Monitor presents for the first time public sector balance sheets across a broad range of countries. These include public corporations, reflecting their importance to fiscal policy and as a source of fiscal risk. The Monitor presents a framework for analyzing balance sheets, showing how the US would cope with another major crisis, what an investment surge means for Indonesia’s public wealth, and how Norway’s massive assets stack up against age-related spending pressures. Drawing on examples such as Australia, NZ and the UK, the Monitor shows how countries can begin to measure, assess and manage their public wealth to improve fiscal, social and economic outcomes.
Speaker’s biography:
Jason Harris is deputy division chief of the Public Financial Management division in the Fiscal Affairs Department. His research focusses on macroeconomic and fiscal policy, and he has developed the IMF’s Fiscal Transparency Code, Public Sector Balance Sheet assessments and Fiscal Stress Tests. Prior to joining the fund in 2010, he spent a decade at the Australian Treasury in various roles – as a macroeconomist, the manager for the Commonwealth Budget process and as an advisor to the Prime Minister. He also spent three years as a macro-fiscal advisor for the Papua New Guinean Treasury.
Inquiry: graspp_eventinfo[at]pp.u-tokyo.ac.jp