expenditure control

Publication date: 22 Oct 2018 | Publication type: NIESR Discussion Paper | Theme: Macroeconomics | Authors: Chadha, J S, Hantzsche, A, Lazarowicz, T, Pabst, A, Young, G | JEL classification: C68, E32, E63 | NIESR discussion paper number: 495
We develop a simple model that motivates fiscal stabilisation policy, in the presence of economic and control uncertainty. An examination of a real-time database of economic variables and forecasts shows that our knowledge of the current and future state of the economy is subject to significant...