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dc.titleStructural Fiscal Balances: Methodological, Conceptual, and Practical Alternatives
dc.contributor.authorMarcel, Mario
dc.contributor.orgunitFiscal and Municipal Management Division
dc.coverageSouth America
dc.coverageCentral America
dc.date.available2013-07-10T00:00:00
dc.date.issue2013-07-10T00:00:00
dc.description.abstractThis paper discusses the merits of alternative definitions of the structural budget in the context of their use in the design and implementation of fiscal rules. To this end, the paper argues that there are three different purposes behind the notion of a structural budget balance: (a) separating permanent from temporary fiscal changes, (b) separating the cyclical from noncyclical components, and (c) separating discretionary from non-discretionary changes. This could lead to the interpretation of the structural budget balance as a permanent balance, a cyclically-adjusted balance, or a discretionary balance, respectively. The paper identifies and measures the items that differentiate the three concepts, and assesses each one on the basis on their analytical soundness, their methodological requirements, their empirical feasibility, and their usefulness as the basis of a fiscal rule.
dc.format.extent36
dc.identifier.doihttp://dx.doi.org/10.18235/0006958
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/Structural-Fiscal-Balances-Methodological-Conceptual-and-Practical-Alternatives.pdf
dc.language.isoen
dc.mediumAdobe PDF
dc.publisherInter-American Development Bank
dc.subjectFiscal Management
dc.subjectFiscal Policy
dc.subjectFiscal Rule
dc.subjectGovernment Revenue
dc.subjectPublic Expenditure
dc.subject.jelcodeE62 - Fiscal Policy
dc.subject.jelcodeH60 - National Budget, Deficit, and Debt: General
dc.subject.keywordsFiscal Policy, Fiscal Rules, Structural Budget Balance
dc.typeDiscussion Papers
idb.identifier.pubnumberDiscussion Papers
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