How much macroeconomic stabilisation is achieved through automatic stabilisers, and what are the key drivers of that dynamic?
Background
Fiscal Policy covers a wide-ranging set of issues at the heart of HM Treasury’s objectives and of fiscal events such as Budgets. Good fiscal policy must ensure the sustainability of the government’s finances, oversee its macroeconomic policy framework, and carry out a stable and efficient financing of government liabilities. HM Treasury’s work in this area includes advising the Chancellor on the appropriate levels of borrowing and debt (as well as broader commitments like guarantees & insurance), providing analysis of the government’s finances and overseeing financing raised for the government by the Debt Management Office and National Savings & Investments.
Next steps
Get in touch with HMTResearch@hmtreasury.gov.uk
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Related UKRI funded projects
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Centre for Macroeconomics (an ESRC Legacy Centre)
The Centre for Macroeconomics is a leading research centre for the study of macroeconomics in the UK. It organizes many conferences and workshops, where the community of macroeconomists comes together to discuss their wo...
Funded by: ESRC
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The Centre for Macroeconomics conducts research on fiscal policy, debt sustainability, and the links between monetary and fiscal policies, directly addressing the question.