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Manual for the Long Term Fiscal Model

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  • John Woods

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.

Suggested Citation

  • John Woods, 2000. "Manual for the Long Term Fiscal Model," Treasury Working Paper Series 00/02, New Zealand Treasury.
    • Handle: RePEc:nzt:nztwps:00/02
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    File URL: https://treasury.govt.nz/sites/default/files/2018-01/twp00-02.pdf
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    Cited by:

    1. John Stephenson & Grant Scobie, 2002. "The Economics of Population Ageing," Treasury Working Paper Series 02/04, 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.
    3. Brian McCulloch & Jane Frances, 2001. "Financing New Zealand Superannuation," Treasury Working Paper Series 01/20, New Zealand Treasury.

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