Is a Fiscal Policy Council needed in Poland?

Łukasz Janikowski and Balazs Romhanyi

No 157, mBank - CASE Seminar Proceedings from CASE-Center for Social and Economic Research

Abstract: Unsustainability and procyclicality of fiscal policy are problems that many developed countries face. The public debt crisis revealed that fiscal rules are a useful but insufficient instrument for mitigating them. A large and growing group of economists are calling for the creation of ‘fiscal policy councils’ – independent collegial bodies made up of experts whose role is to act as independent reviewers of government policy and advise the government and parliament on fiscal policy. Such councils currently exist in at least 40 countries. Poland is the only EU country that does not have a fiscal policy council. The aim of this paper is to address the issue of whether a fiscal policy council is needed in Poland and what kind of additional contribution such a council might make to the public debate on fiscal policy.

Keywords: fiscal council; fiscal rules; fiscal policy; sustainability; cyclical stance (search for similar items in EconPapers)
JEL-codes: E62 H62 H63 (search for similar items in EconPapers)
Pages: 68
Date: 2018-11-30
New Economics Papers: this item is included in nep-mac and nep-tra
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