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Fiscal rules are argued to be important for sound and sustainable fiscal policies and have been increasingly adopted over the last 20 years. However, as increased fiscal pressure and fiscal risks urge countries to address the public debt legacy left by recent economic crises, fiscal rules come...
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This paper analyses the impact of fiscal rules on different public spending categories, namely public expenditure and investment, at the subnational level in Europe. Building on the notion of the deficit bias, we suspect that in the presence of fiscal rules, politicians have an incentive to...
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sustainability based on the optimal fiscal policy rule provided in this paper, both sides of the Japanese government budget …
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sustainability outcomes? We approach this question by looking at the evolution of fiscal sustainability in Poland, which is an … fiscal sustainability in Poland has significantly improved in the post-crisis period of 2009-2017: we detect both improvement … of the fiscal sustainability parameters and structural breaks in the fiscal outcomes after the crisis. Namely, in …
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