Public Financial Management Requirements for Effective Implementation of Fiscal Rules

Ana Corbacho and Teresa Ter-Minassian

Chapter 2 in The International Handbook of Public Financial Management, 2013, pp 38-62 from Palgrave Macmillan

Abstract: Abstract Well-designed and effectively implemented fiscal rules hold a lot of promise. They may help contain a deficit bias, reduce the time inconsistency of budgetary policies, strengthen the credibility of a government’s commitment to fiscal sustainability and facilitate countercyclical fiscal management. By increasing the predictability of fiscal policy, fiscal rules can also lower output volatility and boost long-term growth.

Keywords: International Monetary Fund; Fiscal Policy; Fiscal Rule; Fiscal Sustainability; Fiscal Balance (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-31530-4_3

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DOI: 10.1057/9781137315304_3

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