Medium Term Fiscal Frameworks (MTFs) have become one of the most popular reforms to the budgetary process in Latin America during the last decade, and introducing MTFs seemed to be the magic solution for most fiscal ailments. Nonetheless, there has been no comprehensive evaluation of their...

Whenever the European Union's budget is discussed, much of the political focus is on net balances - whether countries pay in more than they receive - rather than on the broader overall positive effects of EU spending. Thelargest net contributor countries have sought to limit their...