Hedbávný, Petr; Schneider, Ondøej - In: Czech Journal of Economics and Finance (Finance a uver) 53 (2003) 11-12, pp. 462-476
The paper provides an analysis of the role of fiscal rules. The authors first provide a rationale for the existence of fiscal rules, namely to avoid a governmental bias toward budget deficits. The paper then surveys existing fiscal rules and analyzes their applicability in the context of the...