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Do budget balance rules anchor budget balance expectations? -- Some international evidence

Jan-Christoph Rülke, Michael Frenkel and Eliza Lis

Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order from Verein für Socialpolitik / German Economic Association

Abstract: This is the first study that analyzes whether budget balance expectations are anchored and whether budget balance rules effectively anchor expectations. To this end, we use a unique data set which covers budget balance expectations in 17 countries that implemented a budget balance rules. While our results are mixed concerning the general impact of budget balance rules on anchoring expectations, we do find that specific features of budget balance rules are important to successfully anchor budget balance expectations.

JEL-codes: H62 H68 H11 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba and nep-pub
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:vfsc13:80050

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