This paper introduces uncertainty into a fiscal projection model which incorporates population ageing along with a number of feedback effects. When fiscal policy responds in order to achieve a target debt ratio, feedback effects modify the intended outcomes. The feedbacks include the effect on...

This paper analyses long-term fiscal sustainability with a model which incorporates a number of feedback effects. When fiscal policy responds to ensure long-term sustainability, these feedback effects can potentially modify the intended outcomes by either enhancing or dampening the results of...

This paper examines the effects of fiscal policy, measured by changes in government spending and net tax (government tax revenue less transfer payments), on New Zealand GDP. The framework of analysis is a structural vector autoregression (VAR) model of the New Zealand economy, employing and...