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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- Stein, Ernesto & Hommes, Rudolf & Hausmann, Ricardo & Alesina, Alberto, 1999.
"Budget Institutions and Fiscal Performance in Latin America,"
4553021, Harvard University Department of Economics.
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- Alberto Alesina & Ricardo Hausmann & Rudolf Hommes & Ernesto Stein, 1996. "Budget Institutions and Fiscal Performance in Latin America," NBER Working Papers 5586, National Bureau of Economic Research, Inc.
- Fabrizio Balassone & Daniele Franco & Stefania Zotteri, 2006. "EMU fiscal indicators: a misleading compass?," Empirica, Springer, 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," CESifo Forum, Ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 6(3), pages 57-64, October.
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