LEADER 05115nam 2200613Ia 450 001 9910461972403321 005 20200520144314.0 010 $a1-4755-9499-2 010 $a1-4755-1824-2 035 $a(CKB)2670000000278932 035 $a(EBL)1606877 035 $a(SSID)ssj0001032624 035 $a(PQKBManifestationID)11581757 035 $a(PQKBTitleCode)TC0001032624 035 $a(PQKBWorkID)10987833 035 $a(PQKB)10708565 035 $a(MiAaPQ)EBC1606877 035 $a(Au-PeEL)EBL1606877 035 $a(CaPaEBR)ebr10627153 035 $a(OCoLC)801719632 035 $a(EXLCZ)992670000000278932 100 $a20121206d2012 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aFiscal rules in response to the crisis$b[electronic resource] $etoward the next-generation rules ; a new dataset /$fAndrea Schaechter ... [et al.] 210 $aWashington, D.C. $cInternational Monetary Fund$d2012 215 $a1 online resource (50 p.) 225 0$aIMF working paper ;$vWP/12/187 300 $aDescription based upon print version of record. 311 $a1-4755-9893-9 311 $a1-4755-0535-3 320 $aIncludes bibliographical references. 327 $aCover; Abstract; Contents; I. Introduction; II. Definition, Objectives, and Types of Fiscal Rules; A. Definition and Objectives; B. Types of Fiscal Rules; Tables; 1. Properties of Different Types of Fiscal Rules; III. The Past Two Decades: Fiscal Rules on the Rise; A. Who Uses Fiscal Rules and How Many?; Figures; 1. Countries with Fiscal Rules (National and Supranational), 2012; 2. Number of Countries with Fiscal Rules; Boxes; 1. The 'Fiscal Compact' and the 'Six Pack'-Two New Chapters in EU Fiscal Governance Reform; 3. Selected Economies: Moving to Multiple National Fiscal Rules 327 $a4. Average Number of National Fiscal RulesB. What Types and Combinations of Rules?; 5. Types of Fiscal Rules in Use, 2012; 6. Widespread Combinations of Fiscal Rules in Use, 2012; 7. Regional Differences Regarding the Type of National Fiscal Rules; IV. Key Characteristics; A. Legislative Support; 2. Statutory Basis of Fiscal Rules; 3. Countries with Constitutional Legal Basis; B. Coverage of Government; 8. Statutory Basis of Fiscal Rules by Type of Rule and Economy, 2012; C. Coverage of Aggregate; 4. Coverage of Aggregate; 9. Coverage of Fiscal Rules, 2012; D. Escape Clauses 327 $aE. Automatic Correction Mechanisms5. Fiscal Rules with Escape Clauses; F. Supporting Arrangements; 10. Trends in Fiscal Responsibility Laws; 6. Enforcement of Fiscal Rules through Independent Bodies; V. "The Next-Generation Fiscal Rules:" Responses to the Crisis; 7. Fiscal Rules during the Crisis: Some Examples; 8. Types of Recently Adopted National Fiscal Rules (since 2010); 11. Number of Countries with Budget Balance Rules Accounting for the Cycle; VI. Fiscal Rules Dataset and Fiscal Rules Index; A. Setup of the Dataset; 2. Score by Fiscal Rules Characteristics 327 $aB. Fiscal Rules Index: Methodology and Findings12. Fiscal Rules Sub-indices by Type of Rule; C. Key Findings; 13. Fiscal Rules Sub-indices by Key Characteristics; 14. Overall Fiscal Rules Index; 15. Selected Fiscal Rules Sub-indices by Type of Rule; D. Robustness Checks: Alternative Weighting and Aggregation; 16. Selected Fiscal Rules Sub-indices by Key Characteristics; 9. Spearman's Rank Correlation Coefficients for Various Aggregate Indices; E. Fiscal Rules and Fiscal Performance: Avenues for Future Work; VII. Conclusions; References; Appendixes; 1. Escape Clauses: Country Examples 327 $a2. New Fiscal Rules Adopted since 20103. Country Coverage; 4. Fiscal Rules Index Using Random Weights; Appendix Figure 1. Distribution of the Overall Fiscal Rules Strength Index, 2012; 5. Fiscal Rules and Fiscal Performance: Some Preliminary Statistical Evidence; Appendix Figure 2. Fiscal Rules Strength Index and Change in Debt-to-GDP Ratio; 6. Fiscal Responsibility Laws in Selected Countries: Main Features 330 $aStrengthening fiscal frameworks, in particular fiscal rules, has emerged as a key response to the fiscal legacy of the crisis. This paper takes stock of fiscal rules in use around the world, compiles a dataset - covering national and supranational fiscal rules, in 81 countries from 1985 to end-March 2012 - and presents details about the rules' key design elements, particularly in support of enforcement. This information is summarized in a set of fiscal rules indices. Three key findings emerge: (i) many new fiscal rules have been adopted and existing ones strengthened in response to the crisis; 410 0$aIMF Working Papers 606 $aFiscal policy$zEurope 607 $aEurope$xEconomic policy 608 $aElectronic books. 615 0$aFiscal policy 700 $aSchaechter$b Andrea$0428912 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910461972403321 996 $aFiscal rules in response to the crisis$92001616 997 $aUNINA