the measurement and interpretation of structural budget balances
abstract: to calculate structural budget balances, outlays and revenues have to be adjusted for transitory swings in economic activity. two critical inputs are required: a measure of potential output, and elasticity estimates to adjust revenues and outlays for the business cycle. a simple filtering...| Link(s) zu Dokument(en): | IHS Publikation |
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| Format: | IHS Series NonPeerReviewed |
| Sprache: | Englisch |
| Veröffentlicht: |
institut fuer hoehere studien
1990
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| Zusammenfassung: | abstract: to calculate structural budget balances, outlays and revenues have to be adjusted for transitory swings in economic activity. two critical inputs are required: a measure of potential output, and elasticity estimates to adjust revenues and outlays for the business cycle. a simple filtering technique is described for decomposing output into potential and cyclical components. the estimates of budget elasticities are based on time-varying parameter regression models. an application to austrian data illustrates the suggested procedures.; |
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