How Do Canadian Budget Forecasts Compare with Those of Other Industrial Countries?
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Summary:
This paper compares Canadian central government budget forecasting with forecasting by other industrial countries. While fiscal forecasting in Canada is governed by one of the strongest institutional frameworks, quantitative analysis suggests that budget projections of macroeconomic and fiscal aggregates have been more cautious than in other countries since the mid-1990s. The relatively volatile macroeconomic environment as well as institutional factors, such as Canada's asymmetric deficit target, have likely contributed to this outcome.
Series:
Working Paper No. 2005/066
Subject:
Budget planning and preparation Expenditure Fiscal policy Macroeconomic and fiscal forecasts Public financial management (PFM) Revenue administration
English
Publication Date:
March 1, 2005
ISBN/ISSN:
9781451860856/1018-5941
Stock No:
WPIEA2005066
Pages:
49
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