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Fiscal Accounts And Analysis

In: MACROECONOMIC ANALYSIS AND POLICY A Systematic Approach

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  • Joshua E Greene

Abstract

The fiscal sector of the economy comprises the economic activities of government- and state-owned enterprises (Figure 4.1). These activities are recorded in the budgets of the central, provincial or state, and local governments, as well as the budgets of non-financial public enterprises. Financial public enterprises, such as state-owned banks and the central bank or monetary authority, are usually treated in the monetary sector of the economy. However, the IMF’s most recent (2014) Government Financial Statistics (GFS) manual includes them in the public sector. In many economies, the activities of the central government comprise not only the budget of the central administration, but also a separate social insurance or social security system, plus trust funds or separate budgets for some decentralized agencies. In some of these economies, the budgets for the central administration, social insurance or social security fund, and decentralized agencies are combined into a unified budget, to show the full extent of central government activities…

Suggested Citation

  • Joshua E Greene, 2018. "Fiscal Accounts And Analysis," World Scientific Book Chapters, in: MACROECONOMIC ANALYSIS AND POLICY A Systematic Approach, chapter 4, pages 61-89, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813223837_0004
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    Keywords

    Macroeconomics; Macroeconomic Data; Macroeconomic Policy; Macroeconomic Objectives; Macroeconomic Accounts; Macroeconomic and Structural Policies;
    All these keywords.

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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