Policy Instruments for Sound Fiscal Policies

This volume contributes to empirical research on the role of national fiscal rules and institutions in shaping fiscal policies. It provides original, policy-oriented analysis on a number of questions and gives illuminating conclusions about the devices which promote sound and sustainable policy. Contributors are leading experts.

Autorentext

Edited By Joaquim Ayuso-i-Casals, Servaas Deroose, Elena Flores and Laurent Moulin

Inhalt

List of Tables List of Figures Foreword Acknowledgements List of Contributors Introduction; J.Ayuso-i-Casals, S.Deroose, E.Flores & L.Moulin PART I: FISCAL RULES AND INSTITUTIONS AS USEFUL DEVICES TO ADDRESS THE DEFICIT BIAS Dealing With the Deficit Bias: Principles and Policies; S.Krogstrup & C.Wyplosz The Discipline-enhancing Role of Fiscal Institutions: Theory and Empirical Evidence; X.Debrun & M.S.Kumar The Surplus Factor; T.Broesens & P.Wierts Comments on Part I; C.Martinez Mongay PART II: FORMS OF GOVERNANCE, RULES AND INSTITUTIONS The Design of Fiscal Rules and Forms of Governance in European Union Countries; M.Hallerberg, R.Strauch & J.von Hagen National Fiscal Institutions and the Stability and Growth Pact: Are 'Delegation States' at a Disadvantage?; D.Hodson Comments on Part II; C.Wyplosz PART III: SPECIFIC INSTITUTIONAL ARRANGEMENTS TO IMPROVE FISCAL POLICY Rainy Day Funds: Can They Make a Difference in Europe?; F.Balassone, D.Franco & S.Zotteri Beyond the SGP: Features and Effects of EU National-level Fiscal Rules; J.Ayuso-i-Casals, D.González, L.Moulin & A.Turrini Who Provides Signals to Voters About Government Competence on Fiscal Matters? The Importance of Independent Watchdogs; E.Stéclebout-Orseau & M.Hallerberg Optimal Debt Policy and an Institutional Proposal to Help in its Implementation; T.Kirsanova, C.Leith & S.Wren-Lewis Comments on Part III; T.Ter-Minassian PART IV: COUNTRY SPECIFIC EXPERIENCES The Swedish Budget 'Model': A Genuine Beauty or in Need of a Face Lift?; R.Boije & J.Fisher Fiscal Councils, Independent Forecasts and the Budgetary Process: Lessons from the Belgian Case; I.Lebrun Comments on Part IV; L.Jonung Notes Bibliography Index