A Structural VAR Approach to Estimating Budget Balance Targets
Robert A Buckle
Budget target; Fiscal policy; Fiscal Responsibility Act; Structural VAR; Stochastic Simulation
The Fiscal Responsibility Act 1994 states that, as a principle of responsible fiscal management, a New Zealand government should ensure total Crown debt is at a prudent level by ensuring total operating expenses do not exceed total operating revenues. In this paper a st...