Fiscal rules in response to the crisis [[electronic resource] ] : toward the next-generation rules ; a new dataset / / Andrea Schaechter ... [et al.]

• Autore: Schaechter Andrea
• Pubblicazione: Washington, D.C., : International Monetary Fund, 2012
• Descrizione fisica: 1 online resource (50 p.)
• Soggetto topico: Fiscal policy - Europe
• Soggetto geografico: Europe Economic policy
• Soggetto genere / forma: Electronic books.
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Cover; 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 ; 4. 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 ; E. 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 ; B. 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 ; 2. 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
• Sommario/riassunto: Strengthening 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
• Titolo autorizzato: Fiscal rules in response to the crisis
• ISBN: 1-4755-9499-2; 1-4755-1824-2
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910461972403321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers