The Australian real-time fiscal database: An overview and an illustration of its use in analysing planned and realised fiscal policies

Kevin Lee (), James Morley, Kalvinder Shields and Madeleine Sui-Lay Tan

No 2018/11, Discussion Papers from University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM)

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 realtime. 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 (search for similar items in EconPapers)
Date: 2018
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https://www.nottingham.ac.uk/cfcm/documents/papers/cfcm-2018-11.pdf (application/pdf)

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Working Paper: The Australian real-time fiscal database: A overview and an illustration of its use in analysing planned and realised fiscal policies (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:not:notcfc:18/11

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