Second-Generation Fiscal Rules

Balancing Simplicity, Flexibility, and Enforceability

Business & Finance, Economics, Money & Monetary Policy, Macroeconomics
Cover of the book Second-Generation Fiscal Rules by Luc Eyraud, Xavier Debrun, Andrew Hodge, Victor Duarte Lledo, Catherine A Pattillo, INTERNATIONAL MONETARY FUND
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Author: Luc Eyraud, Xavier Debrun, Andrew Hodge, Victor Duarte Lledo, Catherine A Pattillo ISBN: 9781484350935
Publisher: INTERNATIONAL MONETARY FUND Publication: April 13, 2018
Imprint: Language: English
Author: Luc Eyraud, Xavier Debrun, Andrew Hodge, Victor Duarte Lledo, Catherine A Pattillo
ISBN: 9781484350935
Publisher: INTERNATIONAL MONETARY FUND
Publication: April 13, 2018
Imprint:
Language: English

Fiscal rule frameworks have evolved significantly in response to the global financial crisis. Many countries have reformed their fiscal rules or introduced new ones with a view to enhancing the credibility of fiscal policy and providing a medium-term anchor. Enforcement and monitoring mechanisms have also been upgraded. However, these innovations have made the systems of rules more complicated to operate, while compliance has not improved. The SDN takes stock of past experiences, reviews recent reforms, and presents new research on the effectiveness of rules. It also proposes guiding principles for future reforms to strike a better balance between simplicity, flexibility, and enforceability. Read the blog

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Fiscal rule frameworks have evolved significantly in response to the global financial crisis. Many countries have reformed their fiscal rules or introduced new ones with a view to enhancing the credibility of fiscal policy and providing a medium-term anchor. Enforcement and monitoring mechanisms have also been upgraded. However, these innovations have made the systems of rules more complicated to operate, while compliance has not improved. The SDN takes stock of past experiences, reviews recent reforms, and presents new research on the effectiveness of rules. It also proposes guiding principles for future reforms to strike a better balance between simplicity, flexibility, and enforceability. Read the blog

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