Showing 1 - 9 of 9
The global surge in independent fiscal councils (IFCs) raises three related questions: How can IFCs improve the conduct of fiscal policy? Are they simultaneously desirable for voters and elected policymakers? And are they resilient to changes in political conditions? We build a model in which...
Persistent link: https://www.econbiz.de/10012924261
Countries increasingly rely on independent fiscal councils to constrain policymakers' discretion and curb the bias towards excessive deficits and pro-cyclical policies. Since fiscal councils are often recent and heterogeneous across countries, assessing their impact is challenging. Using the...
Persistent link: https://www.econbiz.de/10012252768
Persistent link: https://www.econbiz.de/10011715716
The global surge in independent fiscal councils (IFCs) raises three related questions: How can IFCs improve the conduct of fiscal policy? Are they simultaneously desirable for voters and elected policymakers? And are they resilient to changes in political conditions? We build a model in which...
Persistent link: https://www.econbiz.de/10011697387
Persistent link: https://www.econbiz.de/10011920762
The paper discusses the effectiveness of independent fiscal institutions-or fiscal councils-in taming the deficit bias that emerged in the 1970s. After a review of the main theoretical arguments and recent trends about fiscal councils, we develop a stylized model showing how a fiscal council can...
Persistent link: https://www.econbiz.de/10011705672
The global surge in independent fiscal councils (IFCs) raises three related questions: How can IFCs improve the conduct of fiscal policy? Are they simultaneously desirable for voters and elected policymakers? And are they resilient to changes in political conditions? We build a model in which...
Persistent link: https://www.econbiz.de/10011799662
The global surge in independent fiscal councils (IFCs) raises three related questions: How can IFCs improve the conduct of fiscal policy? Are they simultaneously desirable for voters and elected policymakers? And are they resilient to changes in political conditions? We build a model in which...
Persistent link: https://www.econbiz.de/10012949941
Persistent link: https://www.econbiz.de/10013348909