This study defines various fiscal indicators for different analytical purposes, adjusting for the distorting effect of creative accounting. It presents these indicators using the example of Hungary. The study abandons the general view that an identical balance is produced from the two...

Brunila and Tujula suggest that estimating output gaps using a production function may be preferable in the presence of large structural breaks in the economy. In the Finnish experience, they show that the qualitative conclusions are not overly sensitive to the choice of method (HP filter or...

Short-term fiscal indicators based on public accounts data are often used by European policy makers. They represent one of the main sources of publicly available intra-annual fiscal information. Nevertheless, these indicators have received limited attention from the academic literature analysing...