How Cyclical is the Psbr?
Bank of England Working Paper No. 34
Posted: 6 Nov 2003
Abstract
This paper examines the methodology of cyclical adjustment of fiscal balances. The crucial assumption underlying any estimates of the cyclically-adjusted balance (CAB) is found to be the measure of the output gap. Estimates for the UK are presented, suggesting that when the economy returns to trend the PSBR should fall by between 3% to 4.5% of GDP from its position at the end of 1992.
Suggested Citation: Suggested Citation
Paisley, Joanna and Salmon, Chris, How Cyclical is the Psbr?. Bank of England Working Paper No. 34, Available at SSRN: https://ssrn.com/abstract=111691
Do you have a job opening that you would like to promote on SSRN?
Feedback
Feedback to SSRN
If you need immediate assistance, call 877-SSRNHelp (877 777 6435) in the United States, or +1 212 448 2500 outside of the United States, 8:30AM to 6:00PM U.S. Eastern, Monday - Friday.