Spanish economists devise system for detecting risks to budget forecasts
Bank of Spain working paper tackles issues with government budget surveillance
A group of Spanish economists have devised a forecasting system they believe can detect risks to the official projection of the Spanish government's budget before they materialise.
In A Toolkit to Strengthen Government Budget Surveillance, Diego Pedregal, Javier Pérez and Antonio Sánchez-Fuentes compile a set of tools to help official institutions monitor the government's borrowing requirement.
The system features a suite of models that the authors claim are "suitable" for use wth the monthly
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