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The book considers when governments should give guarantees to private investors. After describing the history of guarantees, and the challenges the politics and psychology create for good decisions, the book sets out principles for allocating risk (and therefore guarantees), techniques for valuing guarantees, and rules to encourage good decisions.

Infrastructure (Economics). --- Infrastructure (Economics) --- Risk management --- Public-private sector cooperation --- Business & Economics --- Economic History --- Management --- Risk management. --- Public-private sector cooperation. --- Management. --- Private-public partnerships --- Private-public sector cooperation --- Public-private partnerships --- Public-private sector collaboration --- Capital, Social (Economics) --- Economic infrastructure --- Social capital (Economics) --- Social infrastructure --- Social overhead capital --- Cooperation --- Insurance --- Economic development --- Human settlements --- Public goods --- Public works --- Capital

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Although the budget deficit and the public debt feature prominently in political debate and economic research, there is no agreement about how they should be measured. They can be defined for different sets of public institutions, including the nested sets corresponding to central government, general government, and the public sector, and, for any definition of government, there are many measures of the debt and deficit, including those generated by four kinds of accounts (cash, financial, full accrual, and comprehensive), which can be derived from four nested sets of assets and liabilities. Each debt and deficit measure says something about public finances, but none tells the whole story. Each is also vulnerable to manipulation, and is likely to be manipulated if it is subject to a binding fiscal rule or target. Narrow definitions of government encourage the shifting of spending to entities outside the defined perimeter of government. Narrow definitions of debt and deficit encourage operations involving off-balance-sheets assets and liabilities, while broad measures are susceptible to the mismeasurement of on-balance-sheet assets and liabilities. Reviewing the literature on these issues, the paper concludes that governments should publish several measures of the debt and deficit in a form that clearly reveals their interrelationships.

Accounting --- Macroeconomics --- Public Finance --- National Deficit Surplus --- Debt --- Debt Management --- Sovereign Debt --- Public Administration --- Public Sector Accounting and Audits --- Fiscal Policy --- Public finance accounting --- Public finance & taxation --- Financial reporting, financial statements --- Fiscal accounting and reporting --- Public debt --- Financial statements --- Accrual accounting --- Fiscal rules --- Public financial management (PFM) --- Fiscal policy --- Finance, Public --- Debts, Public --- United States

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Although the budget deficit is much discussed in political debate and economic research, there is no agreement on how it should be measured. There are at least four options, which can be called the cash deficit, the financial deficit, the full-accrual deficit, and the comprehensive deficit. Each is informative, but each has problems of relevance or reliability. Some are more vulnerable to manipulation involving assets and liabilities that are unrecognized in the underlying accounting, others to manipulation involving the mismeasurement of recognized assets and liabilities. Governments should publish all four in a form that reveals their interrelationships.

Accounting --- Money and Monetary Policy --- Public Finance --- National Budget --- Budget Systems --- National Deficit Surplus --- Public Administration --- Public Sector Accounting and Audits --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Debt --- Debt Management --- Sovereign Debt --- Monetary economics --- Public finance accounting --- Financial reporting, financial statements --- Public finance & taxation --- Currencies --- Fiscal accounting and reporting --- Financial statements --- Government debt management --- Accounting standards --- Money --- Public financial management (PFM) --- Finance, Public --- Debts, Public --- United States

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The problem of climate change seems to be a tragedy of the commons: despite the global benefits of reducing green-house gas emissions, no individual has any incentive to reduce his or her own emissions. Yet many people are making efforts to reduce emissions and putting pressure on businesses and governments to do the same. Although the size of these efforts is unclear, their very existence might seem puzzling. The efforts are consistent, however, with some theoretical and empirical evidence about the extent of cooperation in other social dilemmas. This evidence does not imply that greenhouse-gas emissions will be reduced to desirable levels, but it does suggest that the potential for voluntary cooperation should not be ignored. It also suggests that cooperation can be promoted by (i) allowing cooperators to punish defectors without withdrawing their own cooperation; (ii) publicly emphasizing the social benefits and extent of cooperation and the social norms that require it; and (iii) improving the quantity and timeliness of public information about cooperation and defection.

Air travel --- Anthropology --- Climate --- Climate Change --- Climate change --- Collective action --- Common property --- Common property resource --- Common Property Resource Development --- Commons --- Cooperative equilibrium --- Culture & Development --- Economic Theory and Research --- Education --- Education and Society --- Energy --- Energy and Environment --- Environment --- Environment and Energy Efficiency --- Equilibrium --- Externality --- Fishery --- Forest --- Fuels --- Gas --- Gas emissions --- Gender --- Gender and Social Development --- Health Systems Development and Reform --- Health, Nutrition and Population --- Local commons --- Macroeconomics and Economic Growth --- Natural resources --- Property rights --- Resource use --- Rural Development --- Transport --- Transport and Environment

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The problem of climate change seems to be a tragedy of the commons: despite the global benefits of reducing green-house gas emissions, no individual has any incentive to reduce his or her own emissions. Yet many people are making efforts to reduce emissions and putting pressure on businesses and governments to do the same. Although the size of these efforts is unclear, their very existence might seem puzzling. The efforts are consistent, however, with some theoretical and empirical evidence about the extent of cooperation in other social dilemmas. This evidence does not imply that greenhouse-gas emissions will be reduced to desirable levels, but it does suggest that the potential for voluntary cooperation should not be ignored. It also suggests that cooperation can be promoted by (i) allowing cooperators to punish defectors without withdrawing their own cooperation; (ii) publicly emphasizing the social benefits and extent of cooperation and the social norms that require it; and (iii) improving the quantity and timeliness of public information about cooperation and defection.

Air travel --- Anthropology --- Climate --- Climate Change --- Climate change --- Collective action --- Common property --- Common property resource --- Common Property Resource Development --- Commons --- Cooperative equilibrium --- Culture & Development --- Economic Theory and Research --- Education --- Education and Society --- Energy --- Energy and Environment --- Environment --- Environment and Energy Efficiency --- Equilibrium --- Externality --- Fishery --- Forest --- Fuels --- Gas --- Gas emissions --- Gender --- Gender and Social Development --- Health Systems Development and Reform --- Health, Nutrition and Population --- Local commons --- Macroeconomics and Economic Growth --- Natural resources --- Property rights --- Resource use --- Rural Development --- Transport --- Transport and Environment