National Expenditure Rules
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National Expenditure Rules
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Author : Joaquim Ayuso-i-Casals
language : en
Publisher:
Release Date : 2012
National Expenditure Rules written by Joaquim Ayuso-i-Casals and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Government spending policy categories.
"Expenditure rules present a number of features in terms of simplicity, transparency, monitoring and accountability that make them particularly appealing relative to other types of rules and may substantially contribute to an improved fiscal policy making. They also show an appropriate balance between budgetary discipline and macroeconomic stabilization. In turn, they have represented a cornerstone in the fiscal strategy adopted by some EU Member States to sustain successful episodes of fiscal consolidation over the last decades. However, their final effectiveness to promote fiscal discipline depend on a number of design issues such as the appropriate target definition, the time horizon of the rule, the existence of well defined corrective mechanisms, and a suitable coverage both in terms of budgetary items (i.e. spending categories excluded from the coverage) and government layers. Since spending norms only focus on the expenditure side of the budget they need to be supplemented by other types of rules and arrangements (e.g. controls over tax expenditure) to ensure a proper functioning. Last but not least, the design of national spending rules should ensure that government spending developments are in line with the expenditure benchmark included in the reformed SGP and effectively sustain the achievement of the MTOs."--Document home page.
National Expenditure Rules In The Eu
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Author :
language : en
Publisher:
Release Date : 2020
National Expenditure Rules In The Eu written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
This study reviews national expenditure rules currently in force in the EU, examining their design, effectiveness and the extent to which they have been complied with. Based on evidence from the Commission's Fiscal Governance Database and using a novel database on compliance and econometric estimation, this study finds that out of the 14 expenditure rules covering general and central governments, half mirror the EU expenditure benchmark while four rules are multi-annual expenditure ceilings, with varying binding force. Empirical estimates over the 1999-2016 period confirm that while fiscal policy is indeed pro-cyclical in the EU, the magnitude of the pro-cyclical bias is lower in presence of expenditure rules. Moreover, the better the expenditure rule design in terms of legal base, independent monitoring, consequences for non-compliance or coverage, the stronger the mitigating effect. Finally, we find that expenditure rules were complied with in about 78 percent of cases, with compliance being better for multiannual expenditure ceilings than for rules specified as growth rates.
Adjustment Rules For The Main Components Of National Expenditure
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Author : Conference of European Statisticians
language : en
Publisher:
Release Date : 1963
Adjustment Rules For The Main Components Of National Expenditure written by Conference of European Statisticians and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1963 with categories.
Fiscal Rules At A Glance
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Author : Mrs.Nina Budina
language : en
Publisher: International Monetary Fund
Release Date : 2012-11-14
Fiscal Rules At A Glance written by Mrs.Nina Budina and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-14 with Business & Economics categories.
This paper provides country-specific information on fiscal rules in use in 81 countries from 1985 to end-September 2012. It serves as background material and update of the July 2012 Working Paper “Fiscal Rules in Response to the Crisis—Toward the ‘Next Generation’ Rules: A New Dataset” and is also available in an easy accessible electronic data visualization tool (http://www.imf.org/external/datamapper/FiscalRules/map/map.htm.).The dataset covers four types of rules: budget balance rules, debt rules, expenditure rules, and revenue rules, applying to the central or general government or the public sector. It also presents details on various characteristics of rules, such as their legal basis, coverage, escape clauses, as well as key supporting features such as independent monitoring bodies.
Expenditure Rules
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Author : Till Cordes
language : en
Publisher: International Monetary Fund
Release Date : 2015-02-12
Expenditure Rules written by Till Cordes and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-02-12 with Business & Economics categories.
This paper provides new evidence on the effectiveness of expenditure rules. The analysis is based on a unique dataset covering all countries with national and supranational fiscal rules, including 33 expenditure rules, between 1985 and 2013. It contributes to the existing literature on fiscal rules in two main ways. First, it is the most comprehensive assessment of compliance with rules and of the potential role of expenditure rules, in particular regarding long-term sustainability. Second, it analyzes whether expenditure rules are associated with changes in public investment and its efficiency.
Fiscal Rules In Response To The Crisis
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Author : Ms.Andrea Schaechter
language : en
Publisher: International Monetary Fund
Release Date : 2012-07-01
Fiscal Rules In Response To The Crisis written by Ms.Andrea Schaechter and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-07-01 with Business & Economics categories.
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.
Fiscal Rules Anchoring Expectations For Sustainable Public Finances
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2009-12-11
Fiscal Rules Anchoring Expectations For Sustainable Public Finances written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-12-11 with Business & Economics categories.
The sharp increase in fiscal deficits and public debt in most advanced and several developing economies has raised concerns about the sustainability of public finances and highlighted the need for a significant adjustment over the medium term. This paper assesses the usefulness of fiscal rules in supporting fiscal consolidation, discusses the design and implementation of rules based on a new data base spanning the whole Fund membership, and explores the fiscal framework that could be adopted as countries emerge from the crisis.
Expenditure Rules
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Author : Till Cordes
language : en
Publisher:
Release Date : 2015
Expenditure Rules written by Till Cordes and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Expenditures, Public categories.
This paper provides new evidence on the effectiveness of expenditure rules. The analysis isbased on a unique dataset covering all countries with national and supranational fiscal rules,including 33 expenditure rules, between 1985 and 2013. It contributes to the existingliterature on fiscal rules in two main ways. First, it is the most comprehensive assessment ofcompliance with rules and of the potential role of expenditure rules, in particular regardinglong-term sustainability. Second, it analyzes whether expenditure rules are associated withchanges in public investment and its efficiency
Guidelines For Public Expenditure Management
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Author : Mr.Jack Diamond
language : en
Publisher: International Monetary Fund
Release Date : 1999-07-01
Guidelines For Public Expenditure Management written by Mr.Jack Diamond and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-07-01 with Business & Economics categories.
Traditionally, economics training in public finances has focused more on tax than public expenditure issues, and within expenditure, more on policy considerations than the more mundane matters of public expenditure management. For many years, the IMF's Public Expenditure Management Division has answered specific questions raised by fiscal economists on such missions. Based on this experience, these guidelines arose from the need to provide a general overview of the principles and practices observed in three key aspects of public expenditure management: budget preparation, budget execution, and cash planning. For each aspect of public expenditure management, the guidelines identify separately the differing practices in four groups of countries - the francophone systems, the Commonwealth systems, Latin America, and those in the transition economies. Edited by Barry H. Potter and Jack Diamond, this publication is intended for a general fiscal, or a general budget, advisor interested in the macroeconomic dimension of public expenditure management.
National Expenditure
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Author : Great Britain. Parliament. House of Commons. Select Committee on National Expenditure
language : en
Publisher:
Release Date : 1902
National Expenditure written by Great Britain. Parliament. House of Commons. Select Committee on National Expenditure and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1902 with categories.