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Fiscal Forecast Errors: Governments Versus Independent Agencies? ESRI Research Bulletin 2014/1/1

Merola, Rossana and Pérez, Javier J. (2014) Fiscal Forecast Errors: Governments Versus Independent Agencies? ESRI Research Bulletin 2014/1/1. UNSPECIFIED.

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    Abstract

    Should the role of preparing budgetary projections be delegated to an independent agency? A debate around this issue has arisen in Europe, given the deterioration of governments’ budget balances in many European countries and the lack of accuracy in fiscal projections. Of particular concern is that planned government deficits turned out to consistently exceed budgetary plans by a significant magnitude in recent years. Explanatory factors for these misalignments include unexpected or unplanned large GDP shocks or fiscal stimulus packages. However beyond this, a lack of both transparency and a realistic account of facts may be at fault.

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    Item Type: Other
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > budgets & financing
    EU policies and themes > Policies & related activities > economic and financial affairs > fiscal policy
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Economic and Social Research Institute (ESRI), Dublin > ESRI Research Bulletin
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 21 Sep 2019 08:11
    Number of Pages: 4
    Last Modified: 21 Sep 2019 08:11
    URI: http://aei.pitt.edu/id/eprint/98587

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