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Gabriel Perez Quiros
;
Javier J. Perez
;
Joan Paredes

fiscal targets: a guide to forecasters? (replication data)

We formulate and estimate empirical models for a selection of EU countries (Germany, France, Italy, Spain, Portugal and Ireland) to show that ex-ante government (consumption) targets convey useful information about ex-post fiscal developments, even if the track record of governments meeting their respective targets is low. The use of targets is particularly valuable when there is limited information about its implementation, e.g., at the beginning of a fiscal year, when observed data are scarce. Thus, forecasters would be well advised to use fiscal targets as a guide in creating projections, despite the findings of a well-established literature that reports that, ex-post, governments tend to induce politically motivated biases in policy targets.

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Perez Quiros, Gabriel; Perez, Javier J.; Paredes, Joan (2023): Fiscal targets: A guide to forecasters? (replication data). Version: 1. Journal of Applied Econometrics. Dataset. http://dx.doi.org/10.15456/jae.2023025.1617015713

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