Mourre, Gilles; Astarita, Caterina; Princen, Savina - Directorate-General Economic and Financial Affairs, … - 2014
The cyclically-adjusted budget balance (CAB) is the backbone of the EU framework of fiscal surveillance, both in its preventive and corrective arms. The concept corresponds to the budget balance prevailing if the economy was running at potential. After correcting for the one-off and temporary...