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Public finances after the COVID-19 pandemic

Author

Listed:
  • Marc Robinson

    (PFM Results Consulting)

Abstract

OECD nations face particularly powerful fiscal pressures over the coming decades. To handle these pressures without lapsing into fiscally irresponsibility, they will need to make courageous decisions on both the expenditure and tax sides. This paper looks at the implications of this for budgeting. It focuses particularly on reallocation and expenditure discipline, including the role of spending review, and the design and implementation of expenditure ceilings. The question of the relevance of net worth as a fiscal policy measure is also discussed, as is the potential for efficiency savings to relieve the fiscal pressure on governments.

Suggested Citation

  • Marc Robinson, 2022. "Public finances after the COVID-19 pandemic," OECD Journal on Budgeting, OECD Publishing, vol. 22(3).
    • Handle: RePEc:oec:govkaa:f26b2a3b
    DOI: 10.1787/f26b2a3b-en
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    More about this item

    Keywords

    reallocation; expenditure ceilings; net worth;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems

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