[Working Paper 05-17 - Een gestileerde macrobudgettaire benadering om trajecten voor de overheidsfinanciën te simuleren - Enkele lessen voor het voeren van het begrotingsbeleid in een referentiekader uitgedrukt in structurele termen]"> [Working Paper 05-17 - Een gestileerde macrobudgettaire benadering om trajecten voor de overheidsfinanciën te simuleren - Enkele lessen voor het voeren van het begrotingsbeleid in een referentiekader uitgedrukt in structurele termen]">
[go: up one dir, main page]
More Web Proxy on the site http://driver.im/
IDEAS home Printed from https://ideas.repec.org/p/fpb/wpaper/201705.html
   My bibliography  Save this paper

Working Paper 05-17 - Une approche macrobudgétaire stylisée pour simuler des trajectoires de finances publiques - Quelques enseignements pour la conduite de la politique budgétaire dans un référent exprimé en termes structurels
[Working Paper 05-17 - Een gestileerde macrobudgettaire benadering om trajecten voor de overheidsfinanciën te simuleren - Enkele lessen voor het voeren van het begrotingsbeleid in een referentiekader uitgedrukt in structurele termen]

Author

Listed:
  • Vincent Frogneux
  • Michel Saintrain
Abstract
This study presents a compact model that allows a stylised, yet dynamic reasoning on the main macrofiscal aggregates that are relevant for setting budgetary paths compatible with the structural budget balance requirements of the preventive arm of the Stability and Growth Pact. Some lessons on the conduct of fiscal policy in a reference framework in structural terms can be learned from the simulations provided for illustrative purposes. These simulations show in particular that – under certain conditions relating to the degree to which the budgetary adjustments have a permanent effect on the economic activity and thus on potential GDP – when the feedback effects of adjustments on the underlying macroeconomic environment are left out of consideration, this can be detrimental to the credibility of the considered structural paths.

Suggested Citation

  • Vincent Frogneux & Michel Saintrain, 2017. "Working Paper 05-17 - Une approche macrobudgétaire stylisée pour simuler des trajectoires de finances publiques - Quelques enseignements pour la conduite de la politique budgétaire dans un référe," Working Papers 201705, Federal Planning Bureau, Belgium.
    • Handle: RePEc:fpb:wpaper:201705
    as

    Download full text from publisher

    File URL: https://www.plan.be/uploaded/documents/201706131353110.WP_1705_11494_F.pdf
    File Function: version française
    Download Restriction: no
    File URL: https://www.plan.be/uploaded/documents/201706131353320.WP_1705_11494_N.pdf
    File Function: nederlandse versie
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Public debt; structural balance; cyclical component; potential GDP;
    All these keywords.

    JEL classification:

    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • H68 - Public Economics - - National Budget, Deficit, and Debt - - - Forecasts of Budgets, Deficits, and Debt
    • O21 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fpb:wpaper:201705. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dominique van der Wal (email available below). General contact details of provider: https://edirc.repec.org/data/plagvbe.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.