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Redesigning EU fiscal rules: from rules to standards
Economic Policy, 2021European Union (EU) fiscal rules have been suspended until at least the end of 2021. When they are reinstated, they will need to be modified, if only because of the high levels of debt.
O. Blanchard +2 more
semanticscholar +1 more source
Fiscal Rules and Fiscal Councils: Recent Trends and Performance during the COVID-19 Pandemic
IMF Working Papers, 2022Adoption of fiscal rules and fiscal councils continued to increase globally over the last decades based on two new global datasets. During the pandemic, fiscal frameworks were put to test.
Paulo A. Medas +7 more
semanticscholar +1 more source
Committed to flexible fiscal rules
Journal of Monetary Economics, 2023We study the impact of fiscal rules on macroeconomic performance following natural disaster shocks, using dynamic panel models and quarterly data for 89 countries. We find that countries with fiscal rules perform significantly better in the aftermath of such shocks than countries without rules.
Christoph Grosse-Steffen +2 more
openaire +2 more sources
Fiscal Rules Cause Lower Debt: Evidence from Switzerland's Federal Debt Containment Rule
, 2020This paper studies the effect of the Swiss federal debt containment rule on public debt. Using the synthetic control method, we provide evidence that the introduction of the federal rule in 2003 has reduced public debt ratio in Switzerland by 2.5 ...
M. Salvi +2 more
semanticscholar +1 more source
1998
What are fiscal policy rules? What are the principal benefits and drawbacks associated with various fiscal rules, particularly compared with alternative approaches to fiscal adjustment? Can fiscal rules contribute to long-run sustainability and welfare without sacrificing short-run stabilization?
George Kopits, Steven A. Symansky
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What are fiscal policy rules? What are the principal benefits and drawbacks associated with various fiscal rules, particularly compared with alternative approaches to fiscal adjustment? Can fiscal rules contribute to long-run sustainability and welfare without sacrificing short-run stabilization?
George Kopits, Steven A. Symansky
openaire +3 more sources
Fiscal Rules and Discretion Under Limited Enforcement
Social Science Research Network, 2019We study a fiscal policy model in which the government is present‐biased towards public spending. Society chooses a fiscal rule to trade off the benefit of committing the government to not overspend against the benefit of granting it flexibility to react
Marina Halac, P. Yared
semanticscholar +1 more source

