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Fiscal Reform and Fiscal Sustainability: Evidence from Australia and Sweden

Tomomi Miyazaki

No 1407, Discussion Papers from Graduate School of Economics, Kobe University

Abstract: This paper examines how the adoption of a fiscal rule affects the sustainability of fiscal policy in two OECD countries; Australia and Sweden. While recent fiscal reforms undertaken in both these countries are useful for ensuring the sustainability of government budgets, there are a few differences. In Australia, we show that government revenues are not necessarily growing at a faster rate than government expenditures, at least from the viewpoint of a statistical long-run relationship. In contrast, in Sweden, we show the reform is more beneficial for the attainment of a budget surplus.

Keywords: Fiscal reform; Sustainability of fiscal policy; Expenditure ceilings; Dynamic OLS (search for similar items in EconPapers)
JEL-codes: E62 H61 H62 (search for similar items in EconPapers)
Pages: 27pages
Date: 2014-02
New Economics Papers: this item is included in nep-acc, nep-mac and nep-pbe
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Citations: View citations in EconPapers (14)

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