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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...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
©2012.
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| Colección: | IMF working paper ;
WP/12/187. |
| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- 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.
- 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.
- 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.
- 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.
- 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.