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Fiscal rules in response to the crisis : toward the "next generation" rules : a new dataset /

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...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Schaechter, Andrea (Autor)
Autor Corporativo: International Monetary Fund. Fiscal Affairs Department
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.] : International Monetary Fund, ©2012.
Colección:IMF working paper ; WP/12/187.
Temas:
Acceso en línea:Texto completo

MARC

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245 0 0 |a Fiscal rules in response to the crisis :  |b toward the "next generation" rules : a new dataset /  |c prepared by Andrea Schaechter [and others]. 
260 |a [Washington, D.C.] :  |b International Monetary Fund,  |c ©2012. 
300 |a 1 online resource (49 pages) 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
347 |a text file  |2 rdaft 
490 1 |a IMF working paper ;  |v WP/12/187 
500 |a Title from PDF title page (IMF Web site, viewed Jul. 25, 2012). 
520 |a 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; (ii) the number of fiscal rules and the comprehensiveness of the design features in emerging economies has caught up to those in advanced economies; and (iii) the "next-generation" fiscal rules are increasingly complex as they combine the objectives of sustainability and with the need for flexibility in response to shocks, thereby creating new challenges for implementation, communication, and monitoring. 
504 |a Includes bibliographical references. 
500 |a "Fiscal Affairs Department." 
500 |a "July 2012." 
505 0 |a Cover; Contents; Abstract; I. Introduction; II. Definition, Objectives, and Types of Fiscal Rules; A. Definition and Objectives; B. Types of Fiscal Rules; III. The Past Two Decades: Fiscal Rules on the Rise; A. Who Uses Fiscal Rules and How Many?; B. What Types and Combinations of Rules?; IV. Key Characteristics; A. Legislative Support; B. Coverage of Government; C. Coverage of Aggregate; D. Escape Clauses; E. Automatic Correction Mechanisms; F. Supporting Arrangements; V. "The Next-Generation Fiscal Rules:" Responses to the Crisis; VI. Fiscal Rules Dataset and Fiscal Rules Index. 
505 8 |a A. Setup of the DatasetB. Fiscal Rules Index: Methodology and Findings; C. Key Findings; D. Robustness Checks: Alternative Weighting and Aggregation; E. Fiscal Rules and Fiscal Performance: Avenues for Future Work; VII. Conclusions; References; Tables; 1. Properties of Different Types of Fiscal Rules; 2. Statutory Basis of Fiscal Rules; 3. Countries with Constitutional Legal Basis; 4. Coverage of Aggregate; 5. Fiscal Rules with Escape Clauses; 6. Enforcement of Fiscal Rules through Independent Bodies; 7. Fiscal Rules during the Crisis: Some Examples. 
505 8 |a 8. Types of Recently Adopted National Fiscal Rules (since 2010)9. Spearman's Rank Correlation Coefficients for Various Aggregate Indices; Figures; 1. Countries with Fiscal Rules (National and Supranational), 2012; 2. Number of Countries with Fiscal Rules; 3. Selected Economies: Moving to Multiple National Fiscal Rules; 4. Average Number of National Fiscal 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; 8. Statutory Basis of Fiscal Rules by Type of Rule and Economy, 2012. 
505 8 |a 9. Coverage of Fiscal Rules, 201210. Trends in Fiscal Responsibility Laws; 11. Number of Countries with Budget Balance Rules Accounting for the Cycle; 12. Fiscal Rules Sub-indices by Type of Rule; 13. Fiscal Rules Sub-indices by Key Characteristics; 14. Overall Fiscal Rules Index; 15. Selected Fiscal Rules Sub-indices by Type of Rule; 16. Selected Fiscal Rules Sub-indices by Key Characteristics; Boxes; 1. The 'Fiscal Compact' and the 'Six Pack'-Two New Chapters in EU Fiscal Governance Reform; 2. Score by Fiscal Rules Characteristics; Appendixes; 1. Escape Clauses: Country Examples. 
505 8 |a 2. New Fiscal Rules Adopted since 20103. Country Coverage; 4. Fiscal Rules Index Using Random Weights; 5. Fiscal Rules and Fiscal Performance: Some Preliminary Statistical Evidence; 6. Fiscal Responsibility Laws in Selected Countries: Main Features; Appendix Figure 1. Distribution of the Overall Fiscal Rules Strength Index, 2012; Appendix Figure 2. Fiscal Rules Strength Index and Change in Debt-to-GDP Ratio. 
546 |a English. 
590 |a ProQuest Ebook Central  |b Ebook Central Academic Complete 
590 |a eBooks on EBSCOhost  |b EBSCO eBook Subscription Academic Collection - Worldwide 
650 0 |a Fiscal policy. 
650 0 |a Global Financial Crisis, 2008-2009. 
650 6 |a Politique fiscale. 
650 6 |a Crise financière mondiale, 2008-2009. 
650 7 |a BUSINESS & ECONOMICS  |x Public Finance.  |2 bisacsh 
650 7 |a Fiscal policy  |2 fast 
647 7 |a Global Financial Crisis  |d (2008-2009)  |2 fast  |0 (OCoLC)fst01755654  |1 https://id.oclc.org/worldcat/entity/E39Qhp4vBbr3T8xBMDbJhDhGmm 
648 7 |a 2008-2009  |2 fast 
700 1 |a Schaechter, Andrea,  |e author. 
710 2 |a International Monetary Fund.  |b Fiscal Affairs Department. 
758 |i has work:  |a Fiscal rules in response to the crisis (Text)  |1 https://id.oclc.org/worldcat/entity/E39PCFrdF6yyf8F6P9YKxkP3kP  |4 https://id.oclc.org/worldcat/ontology/hasWork 
776 0 8 |i Print version:  |a Budina, Nina.  |t Fiscal Rules in Response to the Crisis - Toward the ""Next-Generation"" Rules. A New Dataset.  |d Washington DC : International Monetary Fund, ©2012  |z 9781475505351 
830 0 |a IMF working paper ;  |v WP/12/187. 
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