The Role of Medium-Term Fiscal Frameworks for Transition Countries; The Case of Bulgaria
This paper discusses the foundations for a medium-term fiscal framework for Bulgaria, a transition economy aspiring to join the European Union. The paper argues that a well-designed framework can help to enhance the credibility of macroeconomic policies and facilitate preparations for EU membership. It presents an illustrative scenario for Bulgaria, utilizing a broad concept of net public debt.
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- Corsetti, G., 1990. "Testing For Solvency Of Public Sector: An Application To Italy," Papers 617, Yale - Economic Growth Center.
- Sheetal K. Chand & Albert Jaeger, 1996. "Aging Populations and Public Pension Schemes," IMF Occasional Papers 147, International Monetary Fund.
- Polackova Brixi, Hana & Shatalov, Sergei & Zlaoui, Leila, 2000. "Managing fiscal risk in Bulgaria," Policy Research Working Paper Series 2282, The World Bank.