Fiscal rules and institutions
Tying Hands Is Not Commitment: Can Fiscal Rules and Institutions Really Enhance Fiscal Discipline? Bruegel Working Papers, 2007/01, January 2007
... of fiscal indiscipline led many analysts to investigate the likely distortions causing such behavior, and to suggest effective ways to improve policymakers’ ...binding fiscal rules to public ...
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Fiscal rules, fiscal institutions, and fiscal performance
... of fiscal rules is limited at best, because politicians are likely to find ways to circumvent ...the fiscal framework of EMU relies heavily on the fiscal rules imposed on the member ...
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The use and effectiveness of fiscal rules and independent fiscal institutions
... A fiscal rule must be clearly defined and ...this fiscal policy criterion are clearly superior to those of, for example, the Treasury’s net borrowing requirement, which was the key aggregate of Belgian ...
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Fiscal institutions in Germany
... from fiscal consolidation within the next ...the fiscal rules allow for circum- ventions and have yet not been tested in the field, the highly indebted states might form a coalition and interpret the ...
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Institutions, fiscal transparency and fiscal policy outcomes
... better institutions in rule of law, control of corruption, bureaucratic quality, democratic accountability, and government ...more fiscal rules and stronger electoral ...
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The Role of Fiscal Rules in Ensuring Fiscal Discipline
... several rules, they must pay attention to their flexibility ...of rules limit the countercyclical fiscal ...supranational rules intend to break them for short period of time until they achieve ...
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Political Economy of Fiscal Institutions
... their fiscal costs over ...the fiscal rules effectively undermines the financial stability of the government, because it focuses too narrowly on current and explicit debt and neglects future ...
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Fiscal institutions, fiscal policy and sovereign risk premia
... summary Fiscal rules have gained considerable prominence over the last ...deficits, fiscal rules are often seen as a remedy to reduce the deficit ...the fiscal rules in Europe ...
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Fiscal Rules in India: Are They Effective?
... arrangements, institutions, laws, rules, regulations or conventions that can induce the sovereign to impose discipline during good times on ...of fiscal responsibility legislation ...
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Fiscal Policy: Institutions vs. Rules
... governments to change their behavior and put a premium on debt reduction. The empirical evidence presented above does not quite back either interpretation. There is little doubt that fiscal policy is less ...
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Fiscal Stabilisation Policy and Fiscal Institutions
... 4 Fiscal Policy Institutions One of the striking results discussed above is the separation that can in principle be achieved between two potential roles for fiscal policy: the medium to long term ...
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The role of fiscal institutions in analysis of fiscal policy
... budget rules and positive deficit shocks yields an economically large, wrong signed, and highly imprecise coefficient in the regression involving mid-year outlay ...budget rules during this ...
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Fiscal institutions at the cantonal level in Switzerland
... Swiss fiscal federalism is, however, not only characterised by the existence of debt ...large fiscal autonomy cantons and local communities ...achieve fiscal sustain- ability at the cantonal level, ...
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FISCAL MANAGEMENT (Rules and Budget Preparation)
... p. Training and seminar expenses (3-17-000). This account includes expenses incurred for participation/ attendance of personnel to training and seminar/workshops. q. Extraordinary and miscellaneous expenses (3-18-000). ...
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Institutions and Rules
... beyond rules and institutions to examine the micro- foundations of institutions in particular subjectivities, cognitive frames, modes of calculation, norms of conduct, and forms of embodiment; and to ...
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Fiscal decentralization, fiscal rules and fiscal discipline
... If fiscal policy guidelines and rules are not well de- fined or enforced at the aggregate level, decentralizing spending and revenue collection fails to deliver fiscal ...that fiscal ...
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The Perils of Fiscal Rules
... of fiscal rules for aggregate ...of fiscal rules. First, fiscal rules are destabilizing because multiple equilibria and complex dynamics can emerge even when the deficit target ...
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The Case for Fiscal Rules
... this rules out fiscal outcome variables such as the fiscal bal- ance, which is one of our dependent variables, or control variables (x) in- cluded in Equation (1) such as the debt-to-GDP ratio or GDP ...
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The relevance of fiscal rules for fiscal and yield developments
... such rules is the one suggested by Kopits and Symansky (1998), whereby fiscal rules are a permanent numerical constraint on fiscal policy applied to an indicator of fiscal performance, ...
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Fiscal rules, inertia and discretionary fiscal policy
... surprises fiscal authorities do not adjust expenditure plans in the implementation phase of the ...formal rules to cope with lower than expected ...the fiscal performance between member states with ...
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