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• Edward M. Gramlich

This paper is one of three in this Working Paper Series, along with those by Chouraqui et al. and Blanchard, in which the assessment of fiscal policy is reconsidered. It reviews the question of what type of budget indicators the OECD should compile. Instead of the cyclically-adjusted budget, it argues for compiling several indicators to indicate fiscal performance on several dimensions. One measure based entirely on identities can describe the debt-stabilisation gap, one can describe discretionary fiscal policy change, and one can describe the fiscal impact of the budget. Several sources of confusion can be cleared up with this multi-indicator approach: at the same time there will be the costs of explaining what indicator should be used for what purpose ...

L'étude qui suit fait partie intégrante de trois contributions sur les méthodes d'évaluation des politiques budgétaires, publiées dans cette série des Documents de Travail de l'OCDE; les deux autres contributions, de Chouraqui et al. et de Blanchard, sont diffusées séparément. Cette étude examine la question de savoir quels types d'indicateurs budgétaires l'OCDE devrait utiliser. A la place du concept de solde budgétaire corrigé des influences conjoncturelles, il préconise l'utilisation de plusieurs indicateurs susceptibles de mesurer différents aspects de la politique budgétaire. Un indicateur, entièrement bâti sur des identités, peut servir à calculer l'écart existant entre le solde budgétaire effectif et le solde requis pour assurer la stabilisation de la dette publique ; un autre indicateur peut mesurer les changements de nature discretionnaire des politiques budgétaires ; un autre enfin peut permettre d'évaluer l'impact économique du budget. Plusieurs sources de confusion ...

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Paper provided by OECD Economics Department in its series OECD Economics Department Working Papers with number 80.

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Date of creation: Apr 1990
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Handle: RePEc:oec:ecoaaa:80-en

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1. Julia Darby & Anton Muscatelli & Graeme Roy, 2004. "Fiscal Federalism, Fiscal Consolidations and Cuts in Central Government Grants: Evidence from an Event Study," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
   Other versions:
   • Julia Darby & Muscatelli Anton & Graeme Roy, 2004. "Fiscal Federalism, Fiscal Consolidations and Cuts in Central Government Grants: Evidence from an Event Study," ERSA conference papers ersa04p366, European Regional Science Association. [Downloadable!]
2. Martin Larch & Matteo Salto, 2005. "Fiscal rules, inertia and discretionary fiscal policy," Applied Economics, Taylor and Francis Journals, vol. 37(10), pages 1135-1146, June. [Downloadable!] (restricted)
3. Julia Darby & V. Anton Muscatelli & Graeme Roy, 2004. "Fiscal Consolidation And Decentralisation: A Tale Of Two Tiers," Working Papers 2004_2, Department of Economics, University of Glasgow. [Downloadable!]
   Other versions:
   • Julia Darby & V. Anton Muscatelli & Graeme Roy, 2005. "Fiscal consolidation and decentralisation: a tale of two tiers," Fiscal Studies, Institute for Fiscal Studies, vol. 26(2), pages 169-195, June.
4. Giancarlo Marini & Alessandro Piergallini, 2008. "Indicators and Tests of Fiscal Sustainability: An Integrated Approach," CEIS Research Paper 111, Tor Vergata University, CEIS, revised 11 Jul 2008. [Downloadable!]
5. Julia Darby & V. Anton Muscatelli & Graeme Roy, . "Fiscal Federalism and Fiscal Consolidation: Evidence from an Event Study," Working Papers 2005_21, Department of Economics, University of Glasgow, revised Jun 2005. [Downloadable!]

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