Fiscal forecasting: lessons from the literature and challenges

Teresa Leal, Javier Pérez, Mika Tujula and Jean-Pierre Vidal

No 843, Working Paper Series from European Central Bank

Abstract: While fiscal forecasting and monitoring has its roots in the accountability of governments for the use of public funds in democracies, the Stability and Growth Pact has significantly increased interest in budgetary forecasts in Europe, where they play a key role in the EU multilateral budgetary surveillance. In view of the increased prominence and sensitivity of budgetary forecasts, which may lead to them being influenced by strategic and political factors, this paper discusses the main issues and challenges in the field of fiscal forecasting from a practitioner's perspective and places them in the context of the related literature. JEL Classification: H6, E62, C53

Keywords: fiscal policies; forecasting; government budget; Monitoring (search for similar items in EconPapers)
Date: 2007-12
Note: 339133
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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Related works:
Journal Article: Fiscal Forecasting: Lessons from the Literature and Challenges* (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:2007843

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