Fiscal Projections by the Oesterreichische Nationalbank: Methods and Motives

Doris Prammer and Lukas Reiss ()
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Lukas Reiss: Oesterreichische Nationalbank, Economic Analysis Division

Monetary Policy & the Economy, 2014, issue 2, 31-48

Abstract: The financial and economic crisis and recent reforms in economic governance have increased the importance of fiscal projections both inside and outside central banks. The OeNB fiscal projection model is driven by external demand, by considerations of the comparability of subcomponents with cash data (or other administrative information), and by the difference between the driving factors of expenditure and revenue categories. The accuracy of ESCB central banks’ fiscal projections is limited by prudency requirements as well as the no-policy change assumption (in the medium run) and by one-off events and a lack of information on smaller entities (in the short run).

Keywords: Fiscal projections; tax elasticities; projection errors (search for similar items in EconPapers)
JEL-codes: E62 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (1)

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