Fiscal Rules and Fiscal Performance in Europe and Japan - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Fiscal Rules and Fiscal Performance in Europe and Japan write by Jürgen von Hagen. This book was released on 2006. Fiscal Rules and Fiscal Performance in Europe and Japan available in PDF, EPUB and Kindle. Fiscal rules specify quantitative targets for key budgetary aggregates. In this paper, we review the experience with such rules in Japan and in the EU. Comparing the performance of fiscal policy in the 1980s and 1990s until 2003, we find that the fiscal rule of the 1980s exerted some but not much disciplinary influence on Japanese fiscal policy. The fiscal rule of the Maastricht Treaty had a significant impact on political budget cycles in the EU, but did little to constrain fiscal policy in the large member states. Since the start of the European Monetary Union, the disciplinary effect of the fiscal rule in the EU has vanished. Next, we discuss the importance of budgetary institutions for the effectiveness of fiscal rules. In Europe, a number of countries adopted strong fiscal rules, i.e., a fiscal rule combined with a design of the budget process enabling governments to commit to the rule. We find that strong fiscal rules have been effective. We conclude with some suggestions for the design of a strong fiscal rule in Japan.
Fiscal Rules and Fiscal Performance in the EU and Japan
Fiscal Rules and Fiscal Performance in the EU and Japan - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Fiscal Rules and Fiscal Performance in the EU and Japan write by Jürgen von Hagen. This book was released on 2005. Fiscal Rules and Fiscal Performance in the EU and Japan available in PDF, EPUB and Kindle.
The Role of Fiscal Rules in Determinig Fiscal Performance
The Role of Fiscal Rules in Determinig Fiscal Performance - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Role of Fiscal Rules in Determinig Fiscal Performance write by Canada. Economic and Fiscal Policy Branch. This book was released on 2001. The Role of Fiscal Rules in Determinig Fiscal Performance available in PDF, EPUB and Kindle. Legislated fiscal rules, fiscal performance, United States, European Economic and Monetary Union, Germany, Japan, New Zealand, Sweden, Canada.
Fiscal Policy Making in the European Union
Fiscal Policy Making in the European Union - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Fiscal Policy Making in the European Union write by Martin Larch. This book was released on 2009-12-16. Fiscal Policy Making in the European Union available in PDF, EPUB and Kindle. ""Fiscal policy making in the European Union is a national prerogative that is carried out and co-ordinated within the remits of the Stability and Growth Pact (SGP). The SGP Member States have agreed upon a rules-based framework which, abstracting from operational details, aims to ensure long-term sustainability of public finances while allowing for short-term fiscal stabilization. The success of the EU fiscal framework depends to a large extent on the effectiveness and accuracy of the tool-kit of indicators and methods used at the EU level to monitor and assess the fiscal performance of the Member States vis-a-vis the requirements of the SGP. The contributions to this volume examine key aspects of the measurement of fiscal policy making in the context of the EU fiscal surveillance framework. They highlight strengths and weaknesses of current assessment practice, including innovations implied by the 2005 revision of the SGP." "--Jacket.
Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe
Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe write by Ananya Kotia. This book was released on 2016-04-07. Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe available in PDF, EPUB and Kindle. This paper studies how fiscal rules interact with the intergovernmental fiscal framework to foster fiscal discipline among European subnational governments. We use political variables describing the fiscal attitudes of the central government as instruments to obtain consistent estimates of the impact of subnational fiscal rules on fiscal balances. The results suggest that the discipline-enhancing effect of fiscal rules is weaker when there are large “vertical fiscal imbalances” that is, large differences in revenue and spending assignments across the different levels of government. These findings imply that separate reforms to reduce excessive vertical fiscal imbalances complement a rules-based fiscal framework that is aimed at fostering fiscal discipline.
