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due to new liquidity requirements. The transition to this situation will be lengthy and will require a mixture of … liquidity draining instruments. Alternatively, they could adopt a floor system, which may benefit financial stability. The use …
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Fiscal rules that constrain sub-central government (SCG) budgeting are very common across the OECD, but there are substantial cross-country differences in their implementation and impact. This paper presents the 2011 update of the fiscal rules database established in 2005. As in 2005, budget...
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