Public Budget Policy has been traditionally considered as a means for conveying macroeconomic policy, seeking a variety of social and economic objectives. As modern economies face, in the 1990s, a challenging bundle of problems, public policy is of growing importance. This volume contains ten scientific papers presented at the Applied Econometrics Association (AEA) Conference on 'Public Budget Modelling', held in Athens in April 1993. The focus is on the European context of public budget policy and a variety of different approaches are used - theoretical modelling, econometrics and applied general equilibrium modelling. Empirical evidence and case studies of European countries are contained in all the papers.