What Should Fiscal Councils Do?
AbstractFiscal councils now exist in a number of countries.ï¿½ This paper first considers the extent of deficit bias, potential explanations for it, and how independent institutions could help reduce it.ï¿½ Are fiscal councils complements to or substitutes for fiscal rules, and why do none atï¿½ present have any formal control over fiscal decisions?ï¿½ The paper then outlines the specific tasks that a fiscal council might undertake, and examines how these are combined in eleven fiscal councils.ï¿½ A more detailed examination is undertaken of the fiscal councils in Sweden and the UK.ï¿½ The paper draws some conclusions on the role of fiscal forecasting, ensuring independence, and the provision of policy advice.
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Bibliographic InfoPaper provided by Stockholm University, Institute for International Economic Studies in its series Seminar Papers with number 768.
Length: 67 pages
Date of creation: 01 Dec 2010
Date of revision:
Contact details of provider:
Postal: Institute for International Economic Studies, Stockholm University, S-106 91 Stockholm, Sweden
Web page: http://www.iies.su.se/
More information through EDIRC
Fiscal policy Council; Fiscal policy; Government policy;
Other versions of this item:
- A00 - General Economics and Teaching - - General - - - General
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
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by Mainly Macro in Mainly Macro on 2012-02-03 12:26:00
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by Mainly Macro in Mainly Macro on 2012-07-05 15:09:00
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- Where Austerity Really Rules
by Mainly Macro in Mainly Macro on 2013-03-01 18:18:00
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- Time inconsistency and debt
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- Why politicians ignore economists on austerity
by Mainly Macro in Mainly Macro on 2013-03-04 20:52:00
- Petit prÃ©cis de rÃ¨gles budgÃ©taires
by ? in D'un champ l'autre on 2014-05-19 23:31:00
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