Measuring fiscal guidance transparency

Columbano, Claudio

Publication:
Measuring fiscal guidance transparency

dc.contributor.author	Columbano, Claudio
dc.contributor.ror	https://ror.org/02jjdwm75
dc.date.accessioned	2024-07-08T13:15:10Z
dc.date.accessioned	2024-09-16T10:58:33Z
dc.date.available	2024-07-08T13:15:10Z
dc.date.available	2024-09-16T10:58:33Z
dc.date.issued	2022
dc.description.abstract	The public disclosure of medium-term fiscal plans – “fiscal guidance” – represents an increasingly important,yet understudied element of fiscal transparency frameworks. This article introduces a dataset that contains a large set of forecasts on fiscal and economic items issued by all European Union governments over the period 2001-2018. These forecasts are used to build an index of fiscal guidance transparency and to explore its main characteristics and correlates. The analysis reveals that governments are more transparent in their guidance on fiscal flows and macroeconomic aggregates than on liabilities,assets,and exogenous assumptions. In addition,transparency declines in the forecast horizon and in the strength of the governing coalition. Collectively,the results suggest that fiscal guidance transparency may be a sensitive area of policymaking that deserves scholarly attention. Possible uses of the measure of fiscal guidance transparency in research are discussed © 2022. This is an Open Access article distributed under a Creative Commons Attribution-NonCommercial 4.0 International License which permits non commercial use and redistribution,as long as you give appropriate credit,provide a link to the license,and indicate if changes were made
dc.description.keyword	Disclosure
dc.description.keyword	Fiscal transparency
dc.description.keyword	Forecasts
dc.description.keyword	Guidance
dc.description.keyword	Stability and growth pact
dc.description.keyword	Fiscal transparency
dc.description.keyword	Forecasts
dc.description.keyword	Stability and growth
dc.description.keyword	Disclosure
dc.description.peerreviewed	yes
dc.description.status	Published
dc.format	application/pdf
dc.identifier.citation	Columbano, C. (2022). Measuring fiscal guidance transparency. Public Sector Economics, 46(2), 261-296. https://doi.org/10.3326/pse.46.2.4
dc.identifier.doi	https://doi.org/10.3326/pse.46.2.4
dc.identifier.issn	24598860
dc.identifier.officialurl	https://www.scopus.com/inward/record.uri?eid=2-s2.0-85131445148&doi=10.3326%2fpse.46.2.4&partnerID=40&md5=826f34f423a8b7566f937d322c00386d
dc.identifier.uri	https://hdl.handle.net/20.500.14417/3248
dc.issue.number	2
dc.journal.title	Public Sector Economics
dc.language.iso	eng
dc.page.final	296
dc.page.initial	261
dc.page.total	36
dc.publisher	Institute of Public Finance
dc.relation.department	Economics
dc.relation.entity	IE University
dc.relation.school	IE Business School
dc.rights	Attribution-NonCommercial 4.0 International
dc.rights.accessRights	info:eu-repo/semantics/openAccess
dc.rights.uri	https://creativecommons.org/licenses/by-nc/4.0/
dc.title	Measuring fiscal guidance transparency
dc.type	info:eu-repo/semantics/bookPart
dc.version.type	info:eu-repo/semantics/publishedVersion
dc.volume.number	46
dspace.entity.type	Publication