Measuring Cyclically-adjusted Budget Balances for OECD Countries:
Measuring cyclically-adjusted budget balances for OECD countries An important tool in the analysis of fiscal policy is the distinction between structural and cyclical components of the budget balance. This paper describes work undertaken to re-estimate and re-specify the elasticities underlying the...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2005
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| Schriftenreihe: | OECD Economics Department Working Papers
no.434 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Measuring cyclically-adjusted budget balances for OECD countries An important tool in the analysis of fiscal policy is the distinction between structural and cyclical components of the budget balance. This paper describes work undertaken to re-estimate and re-specify the elasticities underlying the Economics Department's calculations of cyclically-adjusted budget balances. Account is taken of tax reforms introduced since the previous updating exercise. A number of methodological innovations have been introduced to better account for the lags between taxes and activity and to ensure greater cross-country consistency in the estimates. The methodology underlying cyclical adjustment of expenditures has also been reviewed. Finally, the country coverage has been extended. The overall results are broadly consistent with the previous set of estimates. The sensitivity of government net lending to a 1 percentage point change in the output gap remains at around 0.5% of GDP for OECD economies on average. |
| Beschreibung: | 1 Online-Ressource (42 p.) 21 x 29.7cm. |
| DOI: | 10.1787/787626008442 |
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| spelling | Girouard, Nathalie VerfasserIn aut Measuring Cyclically-adjusted Budget Balances for OECD Countries Nathalie, Girouard and Christophe, André = Mesurer le solde budgétaire corrigé des fluctuations cycliques pour les pays de l'OCDE / Nathalie, Girouard et Christophe, André Mesurer le solde budgétaire corrigé des fluctuations cycliques pour les pays de l'OCDE Paris OECD Publishing 2005 1 Online-Ressource (42 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.434 Measuring cyclically-adjusted budget balances for OECD countries An important tool in the analysis of fiscal policy is the distinction between structural and cyclical components of the budget balance. This paper describes work undertaken to re-estimate and re-specify the elasticities underlying the Economics Department's calculations of cyclically-adjusted budget balances. Account is taken of tax reforms introduced since the previous updating exercise. A number of methodological innovations have been introduced to better account for the lags between taxes and activity and to ensure greater cross-country consistency in the estimates. The methodology underlying cyclical adjustment of expenditures has also been reviewed. Finally, the country coverage has been extended. The overall results are broadly consistent with the previous set of estimates. The sensitivity of government net lending to a 1 percentage point change in the output gap remains at around 0.5% of GDP for OECD economies on average. Economics André, Christophe MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/787626008442 Volltext |
| spellingShingle | Girouard, Nathalie Measuring Cyclically-adjusted Budget Balances for OECD Countries Economics |
| title | Measuring Cyclically-adjusted Budget Balances for OECD Countries |
| title_alt | Mesurer le solde budgétaire corrigé des fluctuations cycliques pour les pays de l'OCDE |
| title_auth | Measuring Cyclically-adjusted Budget Balances for OECD Countries |
| title_exact_search | Measuring Cyclically-adjusted Budget Balances for OECD Countries |
| title_full | Measuring Cyclically-adjusted Budget Balances for OECD Countries Nathalie, Girouard and Christophe, André = Mesurer le solde budgétaire corrigé des fluctuations cycliques pour les pays de l'OCDE / Nathalie, Girouard et Christophe, André |
| title_fullStr | Measuring Cyclically-adjusted Budget Balances for OECD Countries Nathalie, Girouard and Christophe, André = Mesurer le solde budgétaire corrigé des fluctuations cycliques pour les pays de l'OCDE / Nathalie, Girouard et Christophe, André |
| title_full_unstemmed | Measuring Cyclically-adjusted Budget Balances for OECD Countries Nathalie, Girouard and Christophe, André = Mesurer le solde budgétaire corrigé des fluctuations cycliques pour les pays de l'OCDE / Nathalie, Girouard et Christophe, André |
| title_short | Measuring Cyclically-adjusted Budget Balances for OECD Countries |
| title_sort | measuring cyclically adjusted budget balances for oecd countries |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/787626008442 |
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