Can parliaments make an effective contribution to the budget process while preserving fiscal discipline? Reforming budget institutions represents a critical task for emerging economies seeking to strengthen transparency and curb corruption in the management of public finances. Political...

In this paper we collect detailed information on the budget institutions of Latin American countries. We classify these institutions on a `hierarchical'/'collegial' scale, as a function of their transparency and the existence of legislative constraints on the deficit. We then show that...

Intro -- A GUIDE TO THE ECONOMICS AND FISCAL PERFORMANCE OF THE FEDERAL GOVERNMENT (1976-2007) -- CONTENTS -- INTRODUCTION -- GROSS DOMESTIC PRODUCT -- FEDERAL GOVERNMENT REVENUES -- FEDERAL GOVERNMENT SPENDING -- FEDERAL BUDGET DEFICITS AND SURPLUSES -- U.S. NATIONAL DEBT -- U.S. NATIONAL DEBT...

This volume contributes to empirical research on the role of national fiscal rules and institutions in shaping fiscal policies. It provides original, policy-oriented analysis on a number of questions and gives illuminating conclusions about the devices which promote sound and sustainable policy....

Intro -- FrontMatter -- Foreword -- Acknowledgments -- Contents -- Figures, Tables, and Boxes -- Summary -- 1 The Long-Term Challenge -- 2 Framing the Choices -- 3 Fiscal Prudence -- 4 Choices for a Sustainable Budget -- 5 Options for Medicare and Medicaid -- 6 Options for Social Security -- 7...