Fiscal Policy: Institutions versus Rules

By Charles Wyplosz. National Institute Economic Review, 2005

393 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/ad4da248b2f8fc3879bb6ed91ed9af45b8b67992

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Citations in the corpus

Promoting sustainable public finances in the European Union: The role of fiscal rules and government efficiency (2016, background): “(2008), for example, identifies four broad categories of solutions to the deficit bias problem: (1) fiscal policy-makers may be held more accountable for their actions (Corbacho and Schwartz, 2007); (2) improved budgetary procedures that govern the preparation, approval and implementation of annual ”
Fiscal Rules, Fiscal Councils and All that: Commitment Devices, Signaling Tools or Smokescreens? (2007, background): “However, the literature is far from unanimous in this, with some influential observers arguing that rules-based fiscal frameworks per se need not deliver: rather under quite plausible and realistic assumptions, they are likely to end up meeting the same fate as monetary rules because their effective”
Second-Generation Fiscal Rules; Balancing Simplicity, Flexibility, and Enforceability (2018, background): “First, the delegation of selected fiscal instruments to independent agencies mandated to preserve debt sustainability (see, for example, Wyplosz 2005 or Basso and Costain 2016 for a recent proposal) raises considerable legitimacy issues due to the inherently redistributive nature of fiscal policy…”
Targeting the Structural Balance (2007, neutral): “Some authors have even advocated the delegation of fiscal policy to independent Fiscal Councils (Wyplosz, 2005), for reasons akin to the delegation of monetary policy to independent Central Banks.”
European Monetary Union: the dark sides of a major success (2006, methodology): “Various applications of this idea have been mooted, from fully independent fiscal policy committees (Eichengreen et al., 1999; Calmfors, 2003; Wyplosz, 2005a), to advisory expert councils (Sapir et al., 2004) and to independent accounting and forecasting agencies ( Jonung and Larch, 2004).”