Understanding the Fiscal Rules

Ed Balls and Gus O’Donnell

Chapter 9 in Reforming Britain’s Economic and Financial Policy, 2002, pp 155-181 from Palgrave Macmillan

Abstract: Abstract This chapter looks in detail at the rationale for fiscal rules and, in particular, at the specification of the golden rule and the sustainable investment rule. The chapter explains how clear rules, and firm implementation of them, can deliver sound public finances and, in doing so, assist greatly in restoring the credibility of fiscal policy.

Keywords: Fiscal Policy; Real Interest Rate; Public Debt; Golden Rule; Debt Ratio (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59983-3_10

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DOI: 10.1057/9780230599833_10

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