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Enhancing Credibility and Commitment to Fiscal Rules

Author

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  • Grzegorz Poniatowski

Abstract

The objective of this paper is to derive the characteristics of an effective fiscal governance framework, focusing on the incentives that ensure a commitment to the fiscal rules. We study this problem with the use of econometric tools, complementing this analysis with formal modelling through the lens of a dynamic principal-agent framework.

Suggested Citation

  • Grzegorz Poniatowski, 2018. "Enhancing Credibility and Commitment to Fiscal Rules," CASE Reports 0493, CASE-Center for Social and Economic Research.
    • Handle: RePEc:sec:report:0493
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    File URL: https://case-research.eu/files/?id_plik=5451
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    More about this item

    Keywords

    Principal-Agent; Moral Hazard; Fiscal Effort; Fiscal Rules; Cyclically-Adjusted Balance;
    All these keywords.

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

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