The Boom-Bust Cycle in Finland and Sweden 1984-1995 in an International Perspective
Lars Jonung, Ludger Schuknecht, Mika Tujula
This paper compares the boom-bust cycle in Finland and Sweden 1984-1995 with the average boom-bust pattern in industrialized countries as calculated from an international sample for the period...
Budget balances in OECD countries: what makes them change?
Fiscal policy, Asset prices, Economic growth, Budget balance, Election cycle, E61, E62, H61, H62,
Cyclically adjusted budget balances: an alternative approach.
Philippine Cour-Thimann, Pablo Hernandez Cos, Matthias F. Mohr, Mika Tujula, Carine Bouthevillain, Geert Langenus, ...
Estimates of cyclically-adjusted budget balances, correcting actual government budget balances for business cycle fluctuations, are produced by many institutions. This paper presents an alternative...
Indicators of the Cyclically Adjusted Budget Balance: The Bank of Finland's Experience
Brunila, Anne, Hukkinen, Juhana, Tujula, Mika
Cyclically adjusted government budget balances have become increasingly popular as a means of analysing the fiscal situation and changes in policy that result from the intentional actions of the...
The BOF5 macroeconomic model of Finland, structure and dynamic microfoundations
Willman, Alpo, Kortelainen, Mika, Mannisto, Hanna-Leena, Tujula, Mika
Fiscal forecasting - lessons from the literature and challenges
Teresa Leal, Javier J. Pérez, Mika Tujula, Jean-Pierre Vidal
While fiscal forecasting and monitoring has its roots in the accountability of governments for the use of public funds in democracies, the Stability and Growth Pact has significantly increased...
Fiscal balances have deteriorated quickly in recent years, bringing back to the foreground the question what factors help explain such sharp changes. This paper takes a broad perspective at the issue...
The BOF5 Macroeconomic Model of Finland, Structure and Equations
Willman, Alpo, Kortelainen, Mika, Männistö, Hanna-Leena, Tujula, Mika
This report is the basic documentation of the present (fifth) version of the Bank of Finland macroeconomic model, BOF5, built for policy simulation and forecasting. In constructing the model,...
Fiscal Forecasting: Lessons from the Literature and Challenges*
Teresa Leal, Javier J. Pérez, Mika Tujula, Jean-Pierre Vidal
While fiscal forecasting and monitoring has its roots in the accountability of governments for the use of public funds in democracies, the Stability and Growth Pact has significantly increased...