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which takes into account all the available information on the national numerical fiscal rules. The indicator is calculated in tw ...
Table 6 - Influence of fiscal rules on the primary CAB (EU-25, 1990-2005) Explanatory variables primary CAB (CAPB) Dependent var ...
countries were mostly to applied to territorial (local and regional) governments. A relatively recent feature has been the intro ...
Annet, A., J. Decressin and M. Deppler (2005), ‘Reforming the Stability and Growth Pact’, IMF Policy Discussion Paper 05/2. Bren ...
Kopits, G. and S. Symanski, (1998), ‘Fiscal Policy Rules’, IMF Occasional Paper 162 Persson, T. and L. Svensson (1989), ‘Why a s ...
Annex 1. Numerical fiscal ru les considered in the study COUNTRY TYPE OF RULE DEFINITION OF THE RULE (AGREGATE TARGETED & RE ...
C OUNTRY TYPE OF RULE DEFINITION OF THE RULE (AGREGATE TARGETED & RELEVANT ACCOUNTING SYSTEM ) SECTOR (S) COVERED TIME FRAME ...
C OUNTRY TYPE OF RULE DEFINITION OF THE RULE (AGREGATE TARGETED & RELEVANT ACCOUNTING SYSTEM ) SECTOR (S) COVERED TIME FRAME ...
C OUNTRY TYPE OF RULE DEFINITION OF THE RULE (AGREGATE TARGETED & RELEVANT ACCOUNTING SYSTEM ) SECTOR (S) COVERED TIME FRAME ...
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THE ROLE FOR FISCAL AGENCIES* Xavier Debrun, David Hauner, and Manmohan S. Kumar (International Monetary Fund) Paper completed: ...
projections and analysis and thereby affect policymakers’ incentives through external scrutiny and democratic debate. They could ...
Fourth, delegation should not give rise to major policy coordination problems. If a policy in a particular area or some aspect ...
Box 1 - Comparing Monetary and Fiscal Policy Delegation Fiscal agencies raise a number of issues in comparison with independent ...
Accountability. Ex post control procedures should allow elected officials to verify that the delegated prerogatives were used in ...
assessment of any rule that has to be met over the cycle requires considerable expertise, which can weaken implementation. In su ...
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Some proposals go a step further and suggest combining an FC’s assessment of the observance of fiscal rules with sanctions impos ...
binding decisions on the fiscal adjustment needs for the EU member countries. Noncompliance with these rulings by the government ...
balances are weak, such an FC is more likely to be ignored in the political process.^15 Substantial fiscal decentralization migh ...
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