Titlebook: Rules-Based Fiscal Policy in Emerging Markets; Background, Analysis George Kopits Book 2004 Palgrave Macmillan, a division of Macmillan Pub

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Overview of Fiscal Policy Rules in Emerging Marketsies such as New Zealand, Australia, and the United Kingdom, but perhaps most visibly in the European Union (EU) in support of monetary unification.. Thus, experience with fiscal policy rules, in the context of Europe’s economic and monetary union (EMU), has been the object of extensive analysis.. Al

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Fiscal Policy and High Capital Mobilitychange rate peg either explicitly or implicitly, in view of their potential vulnerability to currency crises.. Indeed, fiscal policy must be examined as both a possible source of and a remedy for capital account crises — broadly defined in terms of a sudden and sizable loss of foreign exchange reser

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Fiscal Institutions versus Political Willscipline while others do not.. The studies do not agree on the factors that account for differences in budget results, but they do agree that rules matter. These findings have spurred international organizations and some national governments to seek new fiscal institutions to strengthen budget disci

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Fiscal Rules and Debt Sustainability in Brazilcts for fiscal sustainability can be regarded as an important argument in the formulation of the macroeconomic policy stance and of structural reforms. Assessing fiscal sustainability in a real economy involves, however, a degree of subjectivity. Possible future outcomes for relevant variables — rea

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Fiscal Rules on the Road to an Enlarged European Unionriorated with the slowdown of their economies (European Commission 2002a). Proposals for revising the fiscal rules contained in the SGP have advanced in two main aspects: first, the budget deficit limit should apply to the cyclically adjusted balance, and second, public investment should be excluded

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Fiscal Rules for Economies with Nonrenewable Resources: Norway and Venezuelaendowment, the lower the per capita growth rate. Analysts offer a variety of reasons to explain the low growth rate in these economies. Resource abundance has led to a shift away from competitive manufacturing, with a consequent loss of growth-inducing externalities. Critics have also argued that re

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Subnational Fiscal Rules: A Game Theoretic Approachf our argument is that the root of fiscal problems lies in political institutional factors, such as the incentive for fiscal profligacy at the subnational level caused by inadequate federal tax-sharing schemes, or the incentive for public spending caused by principal–agent-type problems — for instan