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Fiscal councils and economic volatility [PDF]

Finance a uver - Czech Journal of Economics and Finance, 2014
We evaluate proposals for an independent fiscal authority put forward as a solution to excessive public spending. Our main conclusion is that shifting the responsibility to set broad measures of fiscal policy from the hands of the government to an independent fiscal council is not necessarily welfare improving.
Adam Geršl, Martina Jašová, Jan Zápal   +2 more
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The Functions and Impact of Fiscal Councils

Policy Papers, 2013
In recent years, a rapidly growing number of countries have established independent agencies aimed at promoting sound fiscal policies. Although these institutions vary greatly in terms of their remit, tasks, and institutional forms, they tend to share an explicit mandate enshrined in legislation, a “watchdog” role implying a direct contribution to the ...
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Female politicians in municipal councils and fiscal performance

Economics & Politics, 2020
AbstractEmpirical research has tried to explain the effect of female politicians on various outcomes of political institutions. Few studies have focused on how the gender of politicians may affect institutional fiscal performance. Our research shows that both a female mayor, although with limited effect, and a greater share of female councillors worsen
Roberto Cabaleiro‐Casal, Enrique Buch‐Gómez   +1 more
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Structural Fiscal Rule: A Better Discipline than a Fiscal Council

SSRN Electronic Journal, 2017
In 2011 we recommended the application of a structural fiscal rule to the case of Mexico, given the country's repetitive inability to implement a genuine fiscal reform. At that time, we said that due to the absence of a fiscal reform that increases tax revenues significantly, Mexico needs to adopt a structural correction in its public finance through ...
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Fiscal Policy Framework and Corruption: Do Fiscal Councils Matter?

This study examines the effect of fiscal councils on corruption across a panel of 134 advanced and developing countries from 1998 to 2021. By employing the "Entropy-IV" method, which combines entropy balancing and instrumental variables, we demonstrate that fiscal councils can contribute to a reduction in corruption, particularly within the executive ...
Kakoum Eudes Somda, Sandrine Kablan
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Debt sustainability in Japan and the case for a fiscal council

Working Papers 2026
Japan combines the highest public debt ratio among advanced economies with a fiscal framework that has struggled to anchor fiscal policy. As monetary policy normalises and interest rates rise, concerns about debt sustainability have intensified. We assess Japan’s debt dynamics using stochastic debt sustainability analysis, and examine the institutional
Tomomi Miyazaki, Marie-Sophie Lappe, Roel Dom   +2 more
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Do fiscal councils reduce fiscal policy procyclicality?

Applied Economics Letters, 2022
Christos Chrysanthakopoulos, Athanasios Tagkalakis   +1 more
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Chapter 6: The Role Of Fiscal Councils In Promoting Fiscal Responsibility

2013
The first two decades of the twenty-first century have witnessed an influx of innovations and reforms in public financial management. The current wave of reforms is markedly different from those in the past, owing to the sheer number of innovations, their widespread adoption, and the sense that they add up to a fundamental change in the way governments
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