fiscal rules and stability and
Debt Sustainability and Fiscal Policy Rules in the European Union
... strict fiscal rules concerning the level of debt and deficits, which were first stipulated in the Maastricht Treaty regarding the excessive deficit ...The Stability and Growth Pact contains more ...
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Rules based economic governance in the European Union: A reappraisal of national fiscal rules
... from fiscal laxity and non-sustainable debt ...the Stability and Growth Pact, aimed explicitly at achieving fiscal discipline by limiting both the deficit and the debt ratios of the general ...
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Fiscal Responsibility Laws in EU Member States and Their Influence on the Stability of Public Finance
... coordinating fiscal policy in the European Union (EU) is the use and application of established fiscal responsibility laws (FRL) in order to ensure the stability of public finance in the member ...
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Tying Hands Is Not Commitment: Can Fiscal Rules and Institutions Really Enhance Fiscal Discipline? Bruegel Working Papers, 2007/01, January 2007
... the fiscal rule indices emerges as a natural technical response to this potential issue, there is a scarcity of quality instruments (which have to be orthogonal to the error term but highly correlated with the ...
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Interpreting Fiscal Accounting Rules in the European Union
... supranational fiscal rule under the Stability and Growth Pact where they are expected to run budget deficits less than three percent of GDP (and debts of less than 60 percent of ...statistical rules ...
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Government debt, fiscal rules and singular growth dynamics
... of fiscal rules (see Kinda et ...both. Rules can be explicit or ...the rules agreed upon within the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union, ...
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Constitutional Economics, Fiscal Policy Rules, and The Case of Turkey
... Discretionary fiscal policies have arisen because of dominant Keynesian economic policies from 1930’s to ...macroeconomic stability during this ...policy rules including fiscal rules as ...
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Fiscal rules in a highly distorted economy
... where fiscal and monetary policy react to aggregate variables according to specific policy ...how fiscal rules that have been in place in Europe since EMU creation are suboptimal from a welfare ...
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Boosting cycles and Stabilization effects of Fiscal Rules
... The Stability and Growth Pact requires EU members to aim for a debt-to-GDP ratio of 60 per cent and keep annual deficits below 3 per cent of GDP, or face an ‘excessive deficit procedure’ with the potential for ...
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The fiscal and monetary institutions of CESEE countries Bruegel Working Paper 2011/02, February 2011
... of fiscal and monetary institutions in macroeconomic stability and budgetary control in CESEE (central, eastern and south eastern European) countries in comparison to other OECD ...better fiscal and ...
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The impact of national fiscal rules on the stabilisation function of fiscal policy
... of fiscal policy from government expenditure series, the choice of the series to be used ...macroeconomic stability mostly confirm the existing cross-sectional evidence, with aggressive use of fiscal ...
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The impact of the European Union fiscal rules on economic growth
... the fiscal policy in the hands of national governments – to face asymmetric shocks when necessary – and to put in place rules to avoid excessive ...Those rules are important because governments’ ...
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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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Ireland’s Fiscal Framework: Options for the Future
... The Fiscal Responsibility Act of 2012 established fiscal policy rules and an independent fiscal watchdog, the Irish Fiscal Advisory Council (IFAC) – patterned after the new EU template ...
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The Fallacy of Fiscal Discipline
... current fiscal policy literature, are distorted because they exclude the debt-wealth ratio from the analysis, in sharp contrast with the theoretical predictions of optimizing macroeconomic frameworks, and may lead ...
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The Euro Area sovereign debt crisis: Some implications of its systemic dimension
... There are important differences among the euro area periphery countries as to how fiscal vulnerabilities developed. Portugal, like Greece, was running a sizable fiscal deficit even before the 2008 ...
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Optimal Fiscal and Monetary Rules in Normal and Abnormal Times
... model with deep habits, but only for normal times. Perhaps the closest paper to ours is Kirsanova and Wren-Lewis (2012). In a simple core calibrated NK model without habits or a government sovereign risk their paper ...
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Recommendations on Improving Fiscal and Taxation Policies of Shale Gas Industry in China
... the fiscal and taxation policy suitable for the development of shale gas in- dustry in our country by drawing on the successful experience of shale gas development in the ...
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How to reform the EU-Budget? How to limit and hence to trust the EU-Leviathan?
... majority by means of the European Commission and the European Parliament does set the fiscal rules as well as does make policy inside those rules on a. seemingly [r] ...
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ITLOS procedural rules: Between change and stability - QIL QDI
... procedural rules differ from substantial ones because they depend much more on the Tribunal and its practice than on the States and their ...those rules (in the same way as States are the main creators, ...
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