First published on
17 May 2019
Discussion Paper 098.

The Semi-Elasticities Underlying the Cyclically-Adjusted Budget Balance: An Update and Further Analysis


This papers examines and updates the methodology used for calculating the semi-elasticities that underlie the EU fiscal framework’s analysis of cyclically-adjusted budget balances.


Gilles Mourre, Aurélien Poissonnier and Martin Lausegger. European Commission.

Information and identifiers

Discussion Paper 098. May 2019. Brussels. PDF. 60pp. Tab. Graph. Bibliogr. Free.

KC-BD-18-025-EN-N (online)
ISBN 978-92-79-77435-5 (online)
ISSN 2443-8022 (online)
doi:10.2765/72585 (online)

JEL classification: E62, H62, E32


European Economy Discussion Papers are written by the staff of the European Commission’s Directorate-General for Economic and Financial Affairs, or by experts working in association with them, to inform discussion on economic policy and to stimulate debate. The views expressed in this document are solely those of the author(s) and do not necessarily represent the official views of the European Commission.


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