Government forecasts of GDP growth and budget balances are generally more over-optimistic than private sector forecasts …; meanwhile private sector forecasters were not subject to this crude bias. As a result, using private sector forecasts as an … input into the government budgeting-making process would probably reduce official forecast errors for budget deficits …

Government forecasts of GDP growth and budget balances are generally more over-optimistic than private sector forecasts …; meanwhile private sector forecasters were not subject to this crude bias. As a result, using private sector forecasts as an … input into the government budgeting-making process would probably reduce official forecast errors for budget deficits …

Government forecasts of GDP growth and budget balances are generally more over-optimistic than private sector forecasts …; meanwhile private sector forecasters were not subject to this crude bias. As a result, the budget-making process could probably …

Since the start of EMU national fiscal policy in the Eurozone can be conducted almost without paying any attention to …