Table of Contents -- Preface -- List of Abbreviations -- 1. Introduction and Overview -- Part I: From Economic Stabilization to Budget Stabilization: Theory and Tools -- 2. From Economic Stabilization to Budget Stabilization -- 3. Subnational Government Tools for Budget Stabilization -- Part II:...

"A thorough investigation of the current combination of austerity and extravagance that characterizes government spending and central bank monetary policy. At the close of the 1970s, government treasuries and central banks took a vow of perpetual self-restraint. While, to this day, welfare...