Haku

The aim of this study is to explore budget planning in the euro area countries in 2004-2014. Our analyses are based on annual real-time data from the IMF World Economic Outlook publications. As forecasts made by different ...

Tuotantokuilun reaaliaikainen laskeminen on erittäin vaikeaa, sillä potentiaalista tuotantoa ei voida suoraan havaita.

Using rich panel data including potential output for euro area countries, we analyse budget balance forecasts and their errors. We find that budget balance forecasts are systematically biased and subject to mean reversion ...