Cyclically-Adjusted Balances (André & Girouard)

“Measuring Cyclically-adjusted Budget Balances for OECD Countries” by Christophe André and Nathalie Girouard. “An important tool in the analysis of fiscal policy is the distinction between structural and cyclical components of the budget balance. This paper describes work undertaken to re-estimate and re-specify the elasticities underlying the Economics Department’s calculations of cyclically-adjusted budget balances.” See: