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Papildpielāgojumi
Publication detail
HomeFiscal rules, fiscal space and procyclical fiscal policy. No 1872 / December 2015
Publikācijas metadati
In this paper we analyse the interaction of fiscal rules and fiscal space. We find strong evidence for fiscal rules being associated with higher fiscal space. Furthermore, the analysis shows that countries with more fiscal space tend to have higher discretionary expenditures, but that this effect is significantly reduced if fiscal rules are in place. A similar effect can be observed for the procyclicality of fiscal policy, which is significantly higher in an environment of ample fiscal space, while this difference is reduced with fiscal rules. Regarding the different types of fiscal rules, we find the strongest results for expenditure rules and to a lesser extent for balanced budget rules, but none for debt rules.
- Publicēts:
- Autoru kolektīvs: Eiropas Centrālā banka
- Temati Ekonomika — Finanses , Nodokļu politika
- Temats: budžeta līdzsvars , budžeta politika , ekonometrija , ekonomikas modelis , fiskālā politika , ienākumu politika , parāds , valsts ekonomika , valsts sektora izdevumi
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| ISSN 1725-2806 | ISBN 978-92-899-1685-1 | DOI 10.2866/521587 | Kataloga numurs QB-AR-15-112-EN-N |
- Released on EU publications website:
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