The assessment of the direction of fiscal policy is both important and controversial. Because budgets are influenced by business cycles, disentangling the underlying fiscal position from the effect of the business cycle is difficult. The two main methods used by international institutions to...

As significant part of national wealth, households' wealth is the central issue in both policy debate and academic literature. Nevertheless, in Hungary little effort has been made so far to conduct thorough evaluation of households' wealth for the last decade. Under the auspices of "the plural...

This study defines various fiscal indicators for different analytical purposes, adjusting for the distorting effect of creative accounting. It presents these indicators using the example of Hungary. The study abandons the general view that an identical balance is produced from the two...