This paper examines data on Australian fiscal policy going back to federation to answer two questions. First, has the conduct of Australian fiscal policy been consistent with the government's intertemporal budget constraint? Second, have there been major structural changes in the conduct of...

This paper examines data on Australian fiscal policy going back to federation to answer two questions. First, has the conduct of Australian fiscal policy been consistent with the government?s intertemporal budget constraint? Second, have there been major structural changes in the conduct of...