The Australian Real-Time Fiscal Database: An Overview and An Illustration of Its Use in Analysing Planned and Realised Fiscal Policies

41 Pages Posted: 6 Feb 2019 Last revised: 8 Feb 2019

See all articles by Kevin Lee

Kevin Lee

University of Nottingham, UK

James Morley

University of Sydney

Kalvinder Shields

University of Melbourne - Department of Economics

Madeleine Sui-Lay Tan

affiliation not provided to SSRN

Date Written: February 6, 2019

Abstract

This paper describes a fiscal database for Australia including measures of government spending, revenue, deficits, debt and various sub-aggregates as initially published and subsequently revised. The data vintages are collated from various sources and provide a comprehensive description of the Australian fiscal environment as experienced in real-time. Methods are described which exploit the richness of the real-time datasets and they are illustrated through an analysis of the extent to which stated fiscal plans are realised in practice and through the estimation of fiscal multipliers which draw a distinction between policy responses and policy initiatives. We find predictable differences between plans and actual fiscal policy, consistent with a desire of the government to appear more prudent than in reality, and a larger multiplier for policy initiatives than implementation errors.

Keywords: Real-time, Australian Database, Revisions, Fiscal Policy, Government Spending, Government Revenues

JEL Classification: C32, D84, E32

Suggested Citation

Lee, Kevin and Morley, James and Shields, Kalvinder and Tan, Madeleine Sui-Lay, The Australian Real-Time Fiscal Database: An Overview and An Illustration of Its Use in Analysing Planned and Realised Fiscal Policies (February 6, 2019). CAMA Working Paper No. 14/2019. Available at SSRN: https://ssrn.com/abstract=3329740 or http://dx.doi.org/10.2139/ssrn.3329740

Kevin Lee

University of Nottingham, UK ( email )

United Kingdom

James Morley

University of Sydney ( email )

Rm 370 Merewether (H04)
Sydney, NSW 2006 2008
Australia

HOME PAGE: http://https://sites.google.com/site/jamescmorley/

Kalvinder Shields (Contact Author)

University of Melbourne - Department of Economics ( email )

Melbourne, 3010
Australia

Madeleine Sui-Lay Tan

affiliation not provided to SSRN

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