This paper decomposes the fiscal balance into a cyclical and a structural component using an optimal fiscal stabilisation rule derived from a loss function where the government is assumed to keep structural balance close to the targeted surplus for fiscal balance while at the same time...

This paper decomposes the fiscal balance into a cyclical and a structural component using an optimal fiscal stabilisation rule derived from a loss function where the government is assumed to keep structural balance close to the targeted surplus for fiscal balance while at the same time...

This paper decomposes the fiscal balance into a cyclical and a structural component using an optimal fiscal stabilisation rule derived from a loss function where the government is assumed to keep structural balance close to the targeted surplus for fiscal balance while at the same time...