Alternative Scenarios

Paul Cockle
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Paul Cockle: Data Resources Inc.

Chapter 4 in Public Expenditure Policy, 1984–85, 1984, pp 63-76 from Palgrave Macmillan

Abstract: Abstract The last chapter painted the most likely macroeconomic picture to emerge over the next few years, assuming that the government adheres to the strategy laid down in the public expenditure White Paper. But it would be absurd to pretend that this was the only possible outcome. Even if a high proportion of the forecast judgements that need to be made turned out to be correct, the projections are hostage to developments which are currently unforseeable and perhaps even beyond the government’s control. In this chapter, we explore some alternative possibilities with a main aim of assessing how much help or hindrance such unpredicted development would prove to the government public expenditure strategy. There are, of course, an unlimited number of different scenarios which could be explored. To keep the task manageable, however, we look here at only three variant situations.

Keywords: Interest Rate; Public Sector; Average Earning; Consumer Spending; Public Sector Union (search for similar items in EconPapers)
Date: 1984
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-17623-6_4

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DOI: 10.1007/978-1-349-17623-6_4

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