How Cyclical is the PSBR?
AbstractThis paper examines the methodology of cyclical adjustment of fiscal balances. The crucial assumption underlying any estimates of the cyclically-adjusted balance (CAB) is found to be the measure of the output gap. Estimates for the UK are presented, suggesting that when the economy returns to trend the PSBR should fall by between 3% to 4.5% of GDP from its position at the end of 1992.
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Bibliographic InfoPaper provided by Bank of England in its series Bank of England working papers with number 34.
Date of creation: May 1995
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Danny Quah & Shaun Vahey, 1995.
"Measuring Core Inflation,"
Bank of England working papers
31, Bank of England.
- Sergio Ginebri & Bernardo Maggi & Manuel Turco, 2005. "The automatic reaction of the Italian government budget to fundamentals: an econometric analysis," Applied Economics, Taylor & Francis Journals, vol. 37(1), pages 67-81.
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