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Medium-Term Budgetary Frameworks

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  • Erik J. Lundbäck
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    Abstract

    The Austrian government is about to introduce a new fiscal management framework. The first step is to introduce a medium-term budgetary framework, including an expenditure rule. The paper focuses on this first step. The purpose is to describe and evaluate the Austrian model in light of other countries'' experiences with their frameworks. An attempt is made to identify features that have proven to be effective elsewhere and that can be applied to the Austrian case. The paper also identifies potential challenges and possible trade-offs when implementing the framework.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 08/163.

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    Length: 30
    Date of creation: 01 Jun 2008
    Date of revision:
    Handle: RePEc:imf:imfwpa:08/163

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    Related research

    Keywords: Fiscal management; National budgets; Government expenditures; fiscal policy; mtbf; expenditure; expenditures; fiscal policies; fiscal developments; fiscal policy rules; fiscal responsibility; fiscal sustainability; public debt; fiscal framework; fiscal rules; fiscal strategy; budget balance; fiscal responsibility act; public expenditures; tax cuts; fiscal discipline; fiscal situation; fiscal performance; fiscal balance; expenditure ceilings; fiscal balances; fiscal policy objectives; long-term fiscal sustainability; multiyear expenditure; expenditure framework; fiscal surpluses; fiscal targets; medium-term budgetary framework; public spending; budget surplus; medium-term fiscal strategy; fiscal deficits; medium-term budgetary frameworks; tax burden; fiscal consolidation; fiscal expenditures; fiscal relations; medium-term expenditure; government budgets; expenditure increase; expenditure growth; fiscal difficulties; medium-term expenditure framework; fiscal vulnerabilities; persistent fiscal deficits; fiscal frameworks; public expenditure; spending control; fiscal projections; expenditure levels; fiscal loosening; fiscal budget; local government spending; high levels of public spending; cyclical fiscal policy; tax rates; expenditure frameworks; structural expenditure; fiscal policy goals; fiscal strategies; fiscal policy rule; tax expenditure; government deficit; fiscal position; expenditure ceiling; local government budgets; fiscal crisis; general government expenditures; fiscal target; expenditure priorities; fiscal surplus; fiscal sustainability analysis; budgetary process; fiscal structure; fiscal outcome; fiscal stability; structural fiscal; fiscal analyses; budget adjustment; fiscal plans; annual expenditures; government budget; medium-term budget balance; fiscal policy framework; tax revenues; intergovernmental fiscal relations; intergovernmental fiscal; fiscal federalism; fiscal indicators; tax reform; fiscal policy targets; budgetary institutions; fiscal outlook; budget deficits; public finances; expenditure responsibilities; fiscal reform; budgetary control; fiscal equalization; budget systems; annual budget; fiscal policy outcomes; prudent fiscal policies; budget management; levels of public spending; fiscal plan; fiscal tensions; fiscal control; expenditure level; budget balances; fiscal adjustment; fiscal implications; total expenditures; fiscal relationships; responsible fiscal policies; government spending; public finance; taxation; annual expenditure ceiling;

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Richard Morris & Hedwig Ongena & Ludger Schuknecht, 2006. "The reform and implementation of the Stability and Growth Pact," Occasional Paper Series 47, European Central Bank.
    2. Andrés Fuentes & Eckhard Wurzel & Andreas Wörgötter, 2006. "Reforming Federal Fiscal Relations in Austria," OECD Economics Department Working Papers 474, OECD Publishing.
    3. Hallerberg, Mark & Strauch, Rolf & von Hagen, Jürgen, 2004. "The design of fiscal rules and forms of governance in European Union countries," Working Paper Series, European Central Bank 0419, European Central Bank.
    4. Stephan Danninger, 2002. "A New Rule," IMF Working Papers 02/18, International Monetary Fund.
    5. Anthony Annett & Jörg Decressin & Michael Deppler, 2005. "Reforming the Stability and Growth Pact," IMF Policy Discussion Papers 05/2, International Monetary Fund.
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    Cited by:
    1. Roberto Fernández Llera & Carlos Monasterio Escudero, 2010. "¿Entre dos o entre todos? Examen y propuestas para la coordinación presupuestaria en España," Hacienda Pública Española, IEF, IEF, vol. 195(4), pages 139-163, december.

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