Please use this identifier to cite or link to this item:
Klär, Erik
Year of Publication: 
[Journal:] Intereconomics [ISSN:] 1613-964X [Publisher:] Springer [Place:] Heidelberg [Volume:] 48 [Year:] 2013 [Issue:] 1 [Pages:] 33-40
Ignoring for a moment the debate on whether balanced budget rules are a sensible idea from a macroeconomic point of view, there remains a major problem with tying one’s fi scal policy to econometric estimates of potential variables: their notorious unreliability. With every one of its biannual economic forecasts, the EC provides revised estimates of structural parameters that are crucial components of its macroeconometric models and, by extension, its economic policy advice. This article shows that the EC’s econometric estimates of potential growth variables in Europe have been subject to massive revisions since the financial crisis.
Persistent Identifier of the first edition: 
Document Type: 

Files in This Item:
211.84 kB

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.