{
  "title": "Structural Balances and All That: Which Indicators to Use in Assessing Fiscal Policy",
  "publication": "IMF Working Papers, June 1, 2002",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/structural-balances-and-all-that-which-indicators-to-use-in-assessing-fiscal-policy-15762",
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  "summary": "Structural indicators of a country's fiscal position are regularly used as estimates of both discretionary changes in fiscal policy and the effect of fiscal policy on aggregate demand.",
  "sections": [
    {
      "heading": "Summary",
      "content": "- Structural indicators of a country's fiscal position are regularly used as estimates of both discretionary changes in fiscal policy and the effect of fiscal policy on aggregate demand.\n- The paper evaluates, from a theoretical standpoint and from empirical case studies, the usefulness of structural indicators in measuring:\n  - the size of discretionary policy action, and\n  - fiscal demand stimulus.\n- The paper discusses measurement problems relating to structural balances and the use of the fiscal impulse as an alternative to structural balances."
    },
    {
      "heading": "Major propositions examined",
      "content": "- Proposition 1:\n  - The change in the primary structural balance provides a better indicator of discretionary fiscal policy than does the change in the primary balance.\n- Proposition 2:\n  - The change in the structural balance is a good indicator of the demand stimulus arising from changes in the fiscal position."
    },
    {
      "heading": "Topics and concepts covered",
      "content": "- Expenditure\n- Fiscal policy\n- Fiscal stance\n- Macro-fiscal analysis\n- Potential output\n- Production\n- Keywords reflected in the paper:\n  - aggregate demand\n  - budget constraint\n  - consumption good\n  - consumption-savings decision\n  - demand stimulus\n  - fiscal policy measure\n  - Fiscal stance\n  - fiscal stimulus\n  - impact of fiscal policy\n  - imperfect competition\n  - Macro-fiscal analysis\n  - policy stance\n  - potential GDP\n  - Potential output\n  - Structural balances\n  - weighted budget balance\n  - WP\n\n---\n\n Content in this bundle\n\n- Structural Balances and All That: Which Indicators to Use in Assessing Fiscal Policy - WP/02/101\n  - Structural Balances and All That: Which Indicators to Use in Assessing Fiscal Policy - WP/02/101 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Structural Balances and All That: Which Indicators to Use in Assessing Fiscal Policy - WP/02/101 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/structural-balances-and-all-that-which-indicators-to-use-in-assessing-fiscal-policy-15762"
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    "Authors: Nigel A Chalk",
    "Published: June 1, 2002",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451852523.001",
    "Structural indicators of a country's fiscal position are regularly used as estimates of both discretionary changes in fiscal policy and the effect of fiscal policy on aggregate demand.",
    "The paper evaluates, from a theoretical standpoint and from empirical case studies, the usefulness of structural indicators in measuring:",
    "The paper discusses measurement problems relating to structural balances and the use of the fiscal impulse as an alternative to structural balances.",
    "Proposition 1:",
    "Proposition 2:",
    "Expenditure",
    "Fiscal policy",
    "Fiscal stance",
    "Macro-fiscal analysis",
    "Potential output",
    "Production",
    "Keywords reflected in the paper:",
    "**Structural Balances and All That: Which Indicators to Use in Assessing Fiscal Policy - WP/02/101**"
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