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Manual for the Long Term Fiscal Model - WP 00/02

Publication Details

  • Manual for the Long Term Fiscal Model
  • Published: Mar 2000
  • Status: Current
  • Author: Woods, John
  • JEL Classification: E60
  • Hard copy: Available in PDF and XLS formats only.
 

Manual for the Long Term Fiscal Model

New Zealand Treasury Working Paper 00/02

Published Mar 2000

Author: John Woods

Abstract

The paper sets out a generic approach to the Long Term Fiscal Model (LTFM). The main purpose of the LTFM is to produce Progress Outlooks for Fiscal Strategy Reports. Progress Outlooks of the fiscal position are required by the Fiscal Responsibility Act 1994. The LTFM uses demographic, economic and policy assumptions to project expenses, revenue, assets and liabilities. The projections start from the end of the three-year forecasts in Economic and Fiscal Updates. Projections are usually presented as scenarios to highlight the uncertainty around the projections. The manual contains a technical description of the model and discusses procedures for using the model. A copy of the model is attached to the paper. It is a large spreadsheet run on Excel 97.

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