discipline-enhancing role of fiscal institutions theory and empirical evidence by Xavier Debrun

Cover of: discipline-enhancing role of fiscal institutions | Xavier Debrun

Published by International Monetary Fund, Fiscal Affairs Dept. in [Washington, D.C.] .

Written in English

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Subjects:

  • Fiscal policy.,
  • Fiscal policy -- Mathematical models.

Edition Notes

Book details

Statementprepared by Xavier Debrun and Manmohan S. Kumar.
SeriesIMF working paper -- WP/07/171
ContributionsKumar, Manmohan S., International Monetary Fund. Fiscal Affairs Dept.
The Physical Object
Pagination45 p. :
Number of Pages45
ID Numbers
Open LibraryOL21406421M

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Downloadable. This paper discusses the role of fiscal institutions, including budget rules and non-partisan agencies, in enhancing fiscal discipline. A dynamic model of fiscal policy shows that optimal institutions lack credibility unless the costs to bypass them are sufficiently high. In our model, a combination of complete budgetary transparency and strong democratic.

This paper discusses the role of fiscal institutions, including numerical rules and non-partisan agencies, in enhancing fiscal discipline. A dynamic model of fiscal policy shows that optimal. The Discipline-Enhancing Role of Fiscal Institutions: Theory and Empirical Evidence Article (PDF Available) January with 91 Reads How we measure 'reads'.

This paper discusses the role of fiscal institutions, including budget rules and non-partisan agencies, in enhancing fiscal discipline. A dynamic model of fiscal policy shows that optimal institutions lack credibility unless the costs to bypass them are sufficiently high.

In our model, a combination of complete budgetary transparency and strong democratic Cited by: This paper discusses the role of fiscal institutions, including numerical rules and non-partisan agencies, in enhancing fiscal discipline.

A dynamic model of fiscal policy shows that optimal institutions lack credibility unless the costs to bypass them are sufficiently by: The Discipline-Enhancing Role of Fiscal Institutions: Theory and Empirical Evidence.

International Monetary Fund, IMF Working Paper No. 07/ International Monetary. This volume contributes to empirical research on the role of national fiscal rules and institutions in shaping fiscal policies.

It provides original, policy-oriented analysis on a number of questions and gives illuminating discipline-enhancing role of fiscal institutions book about the devices which promote sound and sustainable policy.

ISBN: X: OCLC Number: Description: xvi, pages: illustrations ; 22 cm. Contents: Introduction / J. Ayuso-i-Casals [and others] --Part I: Fiscal rules and institutions as useful devices to address the deficit biasDealing with the deficit bias:rpinciples and policies / Singe Krogstrup and Wharles Wyplosz --The discipline-enhancing.

Get this from a library. Policy instruments for sound fiscal policies: fiscal rules and institutions. [Joaquim Ayuso-i-Casals; Servaas Deroose; Elena Flores;] -- This volume contributes to empirical research on the role of national fiscal rules and institutions in shaping fiscal policies.

It provides original, policy-oriented analysis on a number of questions. This volume contributes to empirical research on the role of national fiscal rules and institutions in shaping fiscal policies.

It provides original, policy-oriented analysis on a number of questions and gives illuminating conclusions about the devices which promote sound and sustainable. Xavier Debrun & Manmohan S.

Kumar, "The Discipline-Enhancing Role of Fiscal Institutions; Theory and Empirical Evidence," IMF Working Papers 07/, International Monetary Fund. Xavier Debrun & Jean Pisani-Ferry, "Economic reforms in the euro area- is there a common agenda?," Policy Contributi Bruegel.

The Discipline-Enhancing Role of Fiscal Institutions: Theory and Empirical Evidence (EPub) Mr. Xavier Debrun This paper discusses the role of fiscal institutions, including budget rules and non-partisan agencies, in enhancing fiscal discipline. The Discipline-Enhancing Role of Fiscal Institutions: Theory and Empirical Evidence.

IMF Working Papers 07/, International Monetary Fund. Dollar, D. Debrun, X. and M. Kumar (): “The Discipline-Enhancing Role of Fiscal Institutions: Theory and Empirical Evidence”, IMF Working Paper, WP/07/ Kopits, G. (ed), (): “Restoring public debt sustainability. The role of independent fiscal institutions.” Oxford University Press.

This volume contributes to empirical research on the role of national fiscal rules and institutions in shaping fiscal policies. It provides original, policy-oriented analysis on a number of questions and gives illuminating conclusions about the devices which promote sound and sustainable policy.

Contributors are leading experts. show more. Fiscal discipline is essential to improve and sustain economic performance, maintain macroeconomic stability, and reduce vulnerabilities. Discipline is especially important if countries, industrial as well as developing, are to successfully meet the challenges, and reap the benefits, of economic and financial globalization.

Lack of fiscal discipline generally stems from the. After the beginning of the euro area, countries in its periphery engaged in weighty borrowing from foreign private investors, allowing domestic spending to outpace incomes.

Now, these countries face debt crises reflecting a loss of creditor confidence in the sustainability of their finances from which results an abrupt end in private foreign lending to these economies.

Debrun, X. and M. Kumar (): “The Discipline-Enhancing Role of Fiscal Institutions: Theory and Empirical Evidence”, IMF Working Paper, WP/07/ Optional: Ódor, L. (c): “Fiscal Risk Assessment at the R: A onceptual Framework ouncil for udget Responsibility”. Discussion Paper 1/ 5. Fiscal councils in Europe.

Economic literature has extensively analysed how taxes, government spending and budget balances should be set over the cycle in order to ensure the conduct of an appropriate fiscal policy.

However, experience has shown that governments do not always pursue sound and sustainable policies. Rather, they have a tendency to implement pro-cyclical policies, in both.

Fiscal institutions, credit ratings, and borrowing costs”, (). Keynes, global imbalances, and international monetary reform, today” in Claessens, Stijn, Simon Evenett and Bernard Hoekman (eds), Rebalancing the Global Economy: A Primer for : Argentino Pessoa.

The Discipline-enhancing Role of Fiscal Institutions: Theory and Empirical Evidence, vol. International Monetary Fund, International Monetary Fund, [12]Cited by: 3. DEBRUN X. [], Tying hands is not commitment: can fiscal rules and institutions really enhance fiscal discipline. Bruegel working paper no.

/ DEBRUN X., and KUMAR M. [], ″The discipline-enhancing role of fiscal institutions: theory and empirical evidence″, IMF working papers no. 07/, Washington, D.C.: International Author: Argentino Pessoa. Drazen, A. (): Fiscal Rules from a Political Economy Perspective, in G.

Kopits (ed.), Rulesbased Fiscal Policy in Emerging Markets, Palgrave Macmillan. (13). Debrun, Xavier and Manmohan Kumar (), The Discipline-Enhancing Role of Fiscal Institutions: Theory and Empirical Evidence, IMF Working Paper 07/ (Washington, DC: International.

European Commission - Press Release details page - D/12/11 Brussels, 14/12/ Delegations will find attached the conclusions of the European Council (13/14 December ). The European Council agreed on a roadmap for the completion of the Economic and Monetary Union, based on deeper integration and reinforced solidarity.

This. Stable macroeconomy but growth continues to underperform. After nearly six years of economic reforms, unemployment is at an almost year low, poverty is at a 9-year low, inflation is low, public debt is firmly on a downward trajectory, and international reserves are at historically high levels.

Still, growth remains lackluster. Private investment has not fully taken advantage of the. economic growth, ensuring fiscal discipline, enhancing competitiveness and boosting employment, and in particular youth employment, in order for Europe to remain a highly competitive social market economy and to preserve the European social model.

Introduction. In recent literature, capital flows from rich to poor nations has become a subject for intense debate among development theorists.(Kolstad, ) Many development theorists have come to understand that foreign direct investment (FDI) can provide a positive incentive for growth and development in poor gains from FDI are numerous, and include technological.

Τhe new fiscal framework, laid down the Fiscal Compact, requires contracting Member States to adopt national fiscal rules to ensure that the annual structural government deficit does not exceed % of GDP, as well as a correction mechanism to be triggered automatically in the event of deviation from either the Medium-Term Objective (MTO.

Entreprise; Économie; Macroéconomie; Les politiques budgétaires dans une union monétaire hétérogène. (a) macroeconomic growth and stabilisation through disciplined fiscal and monetary policies that result in the reduction of inflation, and improve external and fiscal balances, by strengthening fiscal discipline, enhancing budgetary transparency and efficiency, improving the quality, the equity and composition of fiscal policy; and.

IMF - The Functions and Impact of Fiscal Councils - Free download as PDF File .pdf), Text File .txt) or read online for free. Paper about the fiscal councils frm the IMF. PIE SUMMARY – Planning for Institutional Effectiveness (PIE): College-wide Program Review and Planning Travel and conference funding largely eliminated resulting in fewer faculty at discipline enhancing events Critical Decisions Technology.

Grade Book and one-on-one help in MR learning lab. Based on the guidelines for fiscal transparency provided by prominent international organizations--such as the International Monetary Fund (IMF), the Organization for Economic Co-operation and Development (OECD), the International Organization of Supreme Audit Institutions (INTOSAI), and the World Bank--the International Budget Partnership (IBP.

The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is adopting new regulations and amending existing regulations to require enhanced customer protections, risk management programs, internal monitoring and controls, capital and liquidity standards, customer disclosures, and. Foreword.

The Economic Survey reviews the performance of Pakistan’s economy during fiscal year It describes key developments in various.

Lower oil prices and production have also been a headwind for non-oil GDP, with less revenue available to support fiscal stimulus and investment plans. The Gulf Area has seen a real GDP growth of around % in Oil exporters suffered from weaker oil prices, which lowered export revenues and created tighter liquidity and fiscal constraints.

Without such a centralised fiscal-stabilisation instrument, fiscal-policy coordination remains the only tool to influence the EU or the euro-area fiscal stance.

While the Barroso Commission was able to coordinate a synchronised fiscal stimulus inthe success of the coordination of national policies crucially depends on whether there is a. Empowerment empowerment as a multi-dimensional social process that helps people gain control over their own lives.

It is a process that fosters power in people for use in their own lives, their communities and in their society, by acting on issues they define as important, increasing the spiritual, political, social, educational, gender, or economic strength of.

Amr predicted, “Iran will have a big role in solving the crisis.” This is the second time Salehi has visited Egypt under Morsi’s leadership. He traveled to the country in September The roundtable also focused on the role of the independent public accountant in the FCM examination process, and proposals addressing various alternatives to the current system for segregating customer funds.

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The CME, however, took over the role of the third-party vendor effective Octo and receives account information directly from all depositories holding futures customer funds.

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