Fiscal Rules : Useful Policy Framework or Unnecessary Ornament? /

With the primary objective of conferring credibility on macroeconomic policies, an increasing number of advanced and emerging market economies have adopted various forms of fiscal rules (mainly balanced-budget requirements and debt limits). In contrast to previous fiscal rules, many of which lacked...

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Bibliografske podrobnosti
Glavni avtor: Kopits, George
Format: Revija
Jezik:English
Izdano: Washington, D.C. : International Monetary Fund, 2001.
Serija:IMF Working Papers; Working Paper ; No. 2001/145
Online dostop:Full text available on IMF
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520 3 |a With the primary objective of conferring credibility on macroeconomic policies, an increasing number of advanced and emerging market economies have adopted various forms of fiscal rules (mainly balanced-budget requirements and debt limits). In contrast to previous fiscal rules, many of which lacked transparency, recently introduced rules have the potential of serving as a useful depoliticized policy framework, and over time, can contribute to stability and growth. To this end, they need to be well designed and supported by an appropriate institutional infrastructure. 
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