Dealing with Unexpected Shocks to the Budget

We assess the impact of unexpected shocks to real interest rates and GDP growth on government budgets for nine European Union countries. Shocks are estimated as one-step-ahead forecast errors arising from a recursive bivariate VAR model. Our analysis is relevant, in particular, to deciding what safe...

Ausführliche Beschreibung

Gespeichert in:

Bibliographische Detailangaben
Veröffentlicht in:	Finanzarchiv 2005-01, Vol.61 (2), p.201-219
Hauptverfasser:	Gennari, Elena, Giordano, Raffaela, Momigliano, Sandro
Format:	Artikel
Sprache:	eng
Schlagworte:	Balanced budgets budgeting Business cycles Cyclically adjusted budget Econometrics Economic fluctuations Economic forecasts Economic shock Financial budgets Fiscal policy forecast errors Forecasting standards Government budgets Gross domestic product Interest rates National budget Output rate Public finance Safety factors stability and growth pact Stability Pact Uncertainty Vector autoregression Vector autoregressive models
Online-Zugang:	Volltext
Tags:	Tag hinzufügen Keine Tags, Fügen Sie den ersten Tag hinzu!

Schreiben Sie den ersten Kommentar!