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Palgrave Macmillan

Policy Instruments for Sound Fiscal Policies

Fiscal Rules and Institutions

  • Book
  • © 2009

Overview

Editors:
  1. Joaquim Ayuso-i-Casals
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    You can also search for this editor in PubMed   Google Scholar

  2. Servaas Deroose
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  3. Elena Flores
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  4. Laurent Moulin
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Part of the book series: Finance and Capital Markets Series (FCMS)

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Table of contents (16 chapters)

  1. Front Matter

    Pages i-xvi
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  2. Introduction: The Role of Fiscal Rules and Institutions in Shaping Budgetary Outcomes

    1. Introduction: The Role of Fiscal Rules and Institutions in Shaping Budgetary Outcomes

      • Joaquim Ayuso-i-Casals, Servaas Deroose, Elena Flores, Laurent Moulin
      Pages 1-20

  3. Fiscal Rules and Institutions as Useful Devices to Address the Deficit Bias

    1. Front Matter

      Pages 21-21
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    2. Dealing with the Deficit Bias: Principles and Policies

      • Signe Krogstrup, Charles Wyplosz
      Pages 23-50

    3. The Discipline-Enhancing Role of Fiscal Institutions: Theory and Empirical Evidence

      • Xavier Debrun, Manmohan S. Kumar
      Pages 51-88

    4. The Surplus Factor

      • Teunis Broesens, Peter Wierts
      Pages 89-117

    5. Comments on Part I

      • Carlos Martínez-Mongay
      Pages 118-123

  4. Forms of Governance, Rules and Institutions

    1. Front Matter

      Pages 125-125
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    2. The Design of Fiscal Rules and Forms of Governance in European Union Countries

      • Mark Hallerberg, Rolf Strauch, Jürgen von Hagen
      Pages 127-148

    3. National Fiscal Institutions and the Stability and Growth Pact: Are ‘Delegation’ States at a Disadvantage?

      • Dermot Hodson
      Pages 149-172

    4. Comments on Part II

      • Charles Wyplosz
      Pages 173-176

  5. Specific Institutional Arrangements to Improve Fiscal Policy

    1. Front Matter

      Pages 177-177
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    2. Rainy Day Funds: Can They Make a Difference in Europe?

      • Fabrizio Balassone, Daniele Franco, Stefania Zotteri
      Pages 179-203

    3. Beyond the SGP: Features and Effects of EU National-Level Fiscal Rules

      • Joaquim Ayuso-i-Casals, Diana González Hernandez, Laurent Moulin, Alessandro Turrini
      Pages 204-240

    4. Who Provides Signals to Voters about Government Competence on Fiscal Matters? The Importance of Independent Watchdogs

      • Eloïse Stéclebout-Orseau, Mark Hallerberg
      Pages 241-255

    5. Optimal Debt Policy, and an Institutional Proposal to Help in Its Implementation

      • Tatiana Kirsanova, Campbell Leith, Simon Wren-Lewis
      Pages 256-283

    6. Comments on Part III

      • Teresa Ter-Minassian
      Pages 284-287
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Keywords

About this book

This volume contributes to empirical research on the role of national fiscal rules and institutions in shaping fiscal policies. It provides original, policy-oriented analysis on a number of questions and gives illuminating conclusions about the devices which promote sound and sustainable policy. Contributors are leading experts.

About the authors

JOAQUIM AYUSO-I-CASALS is currently working as an economist and policy analyst in the Directorate-General for Economic and Financial Affaires at the European Commission. He deals with fiscal policy issues in the context of the Economic and Monetary Union and, in particular, with the quality and institutional aspects of public finances. He is a former professor at the University Pompeu Fabra of Barcelona.

SERVAAS DEROOSE is Director of the Macroeconomy of the euro area and the Union in the Directorate-General for Economic and Financial Affairs at the European Commission, and a member of the Economic and Financial Committee. He has written numerous articles on different issues, including the Stability and Growth Pact and economic policies in EMU.

ELENA FLORES is Director in charge of Economies of Member States in the Directorate-General for Economic and Financial Affairs at the European Commission. She held other important positions in the past in the Commission, such as Head of Units in charge of euro introduction, financial markets developments and public finances, respectively. She was also advisor in the cabinet of the Commissioner responsible for Economic and Financial Affairs (1999-2002).

LAURENT MOULIN is a staff member of the European Commission on special leave. He is currently working at the IMF as an Economist in charge of monitoring some IMF Member States' economies. In the Directorate-General for Economic and Financial Affaires at the European Commission, he worked on issues related to the analysis of fiscal policies in the EU, the euro area and the Member States and methodological work on the implementation of the Stability and Growth Pact.

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