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Determining the cyclical budget balance
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Determining the cyclical budget balance
by econ86 » Mon Apr 10, 2017 11:58 am
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Last edited by econ86 on Tue Apr 11, 2017 5:35 am, edited 1 time in total.
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Re: Determining the cyclical budget balance
by jpfeifer » Mon Apr 10, 2017 5:42 pm
There is no general way to answer this. There are different ways to conceptualize the concept of "cyclical budget balance". As Cwik writes
If you want the same definition, use his concept. If you have something else in mind, use that other definition. You just have to be transparent and tell readers which concept you are using.
I define the structural government deficit as the deficit, which is present when there
is no adjustment of fiscal instruments to output and the tax base is at their equilibrium value.
If you want the same definition, use his concept. If you have something else in mind, use that other definition. You just have to be transparent and tell readers which concept you are using.
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