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Manual for the Long Term Fiscal Model

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  • John Woods
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    Abstract

    The paper sets out a generic approach to the Long Term Fiscal Model (LTFM). The main purpose of the LTFM is to produce Progress Outlooks for Fiscal Strategy Reports. Progress Outlooks of the fiscal position are required by the Fiscal Responsibility Act 1994. The LTFM uses demographic, economic and policy assumptions to project expenses, revenue, assets and liabilities. The projections start from the end of the three-year forecasts in Economic and Fiscal Updates. Projections are usually presented as scenarios to highlight the uncertainty around the projections. The manual contains a technical description of the model and discusses procedures for using the model. A copy of the model is attached to the paper. It is a large spreadsheet run on Excel 97.

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    File URL: http://www.treasury.govt.nz/publications/research-policy/wp/2000/00-02/twp00-02.pdf
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    Bibliographic Info

    Paper provided by New Zealand Treasury in its series Treasury Working Paper Series with number 00/02.

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    Length: 53 pages
    Date of creation: 2000
    Date of revision:
    Handle: RePEc:nzt:nztwps:00/02

    Contact details of provider:
    Postal: New Zealand Treasury, PO Box 3724, Wellington, New Zealand
    Phone: +64-4-472 2733
    Fax: +64-4-473 0982
    Web page: http://www.treasury.govt.nz
    More information through EDIRC

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    Cited by:
    1. Brian McCulloch & Jane Frances, 2001. "Financing New Zealand Superannuation," Treasury Working Paper Series 01/20, New Zealand Treasury.
    2. Nick Davis & Richard Fabling, 2002. "Population Ageing and the Efficiency of Fiscal Policy in New Zealand," Treasury Working Paper Series 02/11, New Zealand Treasury.

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