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Macro-projections underlying the budget

Author

Listed:
  • Teodora Cardoso

Abstract

The need to restore public confidence in official economic and fiscal forecasts has led several countries either to subject official projections to oversight by an independent fiscal institution or, alternatively, to delegate this function to such an institution. In order to understand the exact meaning of such oversight or delegation we need to clarify the nature of macro-fiscal projections and their role in the budget process. This note aims at providing such an explanation, in the light of international trends in this area.

Suggested Citation

  • Teodora Cardoso, 2012. "Macro-projections underlying the budget," CFP Notebook 01/2012, Portuguese Public Finance Council.
    • Handle: RePEc:alf:cfpnbk:2012-01
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    File URL: https://www.cfp.pt/uploads/publicacoes_ficheiros/macro-projections-underlying-the-budget.pdf
    File Function: First version, 2012
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    More about this item

    Keywords

    macro-fiscal projections; fiscal framework; fiscal councils;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

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