Fiscal Policy: When Theory Collides with Reality
This paper sketches the outline of "Theory of Fiscal Policy" in its most essential elements and outlines the assumptions implicit in it. It then argues that the reality can be far removed from this theory, at least in some countries.
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- Torsten Persson & Guido Tabellini, 2004. "Constitutional Rules and Fiscal Policy Outcomes," American Economic Review, American Economic Association, vol. 94(1), pages 25-45, March.
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NBER Working Papers
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- Ricardo Hausmann & Alberto Alesina & Rudolf Hommes & Ernesto H. Stein, 1998. "Budget Institutions and Fiscal Performance in Latin America," Research Department Publications 4160, Inter-American Development Bank, Research Department.
- Vito Tanzi, 2005. "Fiscal policy and fiscal rules in the European Union," CESifo Forum, Ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 6(3), pages 57-64, October.
- Fabrizio Balassone & Daniele Franco & Stefania Zotteri, 2006. "EMU fiscal indicators: a misleading compass?," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 33(2), pages 63-87, June.
- Barry Eichengreen & Ricardo Hausmann & Jürgen Von Hagen, 1999. "Reforming Budgetary Institutions in Latin America: The Case for a National Fiscal Council," Open Economies Review, Springer, vol. 10(4), pages 415-442, October.
- Vito Tanzi, 2005. "Fiscal Policy and Fiscal Rules in the European Union," CASE Network Studies and Analyses 0301, CASE-Center for Social and Economic Research.
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