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Fiscal Rules

Csaba Tóth () and Dávid Berta

MNB Handbook, 2017, vol. 2, issue 14, 1–60

Abstract: Our methodological handbook seeks to summarise the information available on fiscal rules. Within this framework, it presents the theoretical background to the operation of the rules, an overview of Hungarian practice and the development of the EU rules. In the second chapter, we discuss the theoretical basis of the rules, especially the potential reasons for the emergence of the deficit bias, and the aims and types of different rules. The next chapter presents the key characteristics of the spread of national rules as well as the experiences with their operation. The Hungarian practice is introduced in Chapter 4, which includes a description of the legal context and the presentation of the required fiscal policy. The last chapter summarises the development of the EU?s fiscal framework, and provides a detailed analysis of the currently effective requirements and procedures related to fiscal policy.

Keywords: fiscal policy; fiscal rules (search for similar items in EconPapers)
JEL-codes: E60 E62 E63 H60 (search for similar items in EconPapers)
Date: 2017
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