Fiscal Policy Rules

July 22, 1998

Preview Citation

Format: Chicago

George Kopits, and Steven A. Symansky Fiscal Policy Rules, (USA: International Monetary Fund, 1998) accessed September 18, 2024

Summary

What are fiscal policy rules? What are the principal benefits and drawbacks associated with various fiscal rules, particularly compared with alternative approaches to fiscal adjustment? Can fiscal rules contribute to long-run sustainability and welfare without sacrificing short-run stabilization? If so, what characteristics of fiscal rules make this contribution most effective? And in what circumstances and contexts, if any should the IMF encourage its member countries to adopt fiscal rules? This paper seeks to identify sensible fiscal policy rules that can succeed, if chosen by a member country, as an alternative to descretionary fiscal rules.

Subject: Budget planning and preparation, Fiscal consolidation, Fiscal policy, Fiscal rules, Government debt management, Public financial management (PFM)

Keywords: Balanced-budget rule, Budget planning and preparation, Debt rule, Deficit, Europe, Fiscal consolidation, Fiscal policy rule, Fiscal rules, Global, Government, Government debt management, Member government, No-deficit rule, OP, Rule, Western Europe

Publication Details

Pages:

45
Volume:

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DOI:

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Issue:

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Series:

Occasional Paper No. 1998/011
Stock No:

S162EA0000000
ISBN:

9781557757043
ISSN:

0251-6365

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