Technical Notes and Manuals

When and How to Adjust Beyond the Business Cycle? A Guide to Structural Fiscal Balances

ByFabian Bornhorst, Annalisa Fedelino, Jan Gottschalk, Gabriela Dobrescu

April 11, 2011

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Format: Chicago

Fabian Bornhorst, Annalisa Fedelino, Jan Gottschalk, and Gabriela Dobrescu. "When and How to Adjust Beyond the Business Cycle? A Guide to Structural Fiscal Balances", Technical Notes and Manuals 2011, 002 (2011), accessed 12/5/2025, https://doi.org/10.5089/9781475510201.005

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Disclaimer: This Technical Guidance Note should not be reported as representing the views of the IMF. The views expressed in this Note are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

Technical Notes and Manuals are produced by IMF departments to expand the dissemination of their technical assistance advice. These papers present general advice and guidance, drawn in part from unpublished technical assistance reports, to a broader audience. This new series was launched in August 2009.

Subject: Asset prices, Business cycles, Economic growth, Expenditure, Fiscal policy, Fiscal stance, Output gap, Prices, Production

Keywords: asset prices, asset-price cycle, business cycle, business cycle fluctuations, Business cycles, commodity price, commodity prices, composition effect, cyclical adjustment, elasticity estimate, fiscal policy, Fiscal stance, gap term, Global, housing price Gap, output composition, Output gap, price boom, structural fiscal balance, TNM

Notes