Medium-Term Budgetary Frameworks - Lessons for Austria from International Experience
The Austrian government is about to introduce a new fiscal management framework. The first step is to introduce a medium-term budgetary framework, including an expenditure rule. The paper focuses on this first step. The purpose is to describe and evaluate the Austrian model in light of other countries' experiences with their frameworks. An attempt is made to identify features that have proven to be effective elsewhere and that can be applied to the Austrian case. The paper also identifies potential challenges and possible trade-offs when implementing the framework.
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References listed on IDEAS
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- Richard Morris & Hedwig Ongena & Ludger Schuknecht, 2006. "The reform and implementation of the Stability and Growth Pact," Occasional Paper Series 47, European Central Bank.
- Andrés Fuentes & Eckhard Wurzel & Andreas Wörgötter, 2006. "Reforming Federal Fiscal Relations in Austria," OECD Economics Department Working Papers 474, OECD Publishing.
- Hallerberg, Mark & Strauch, Rolf & Hagen, Jürgen von, 2006.
"The design of fiscal rules and forms of governance in European Union countries,"
Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems
150, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Hallerberg, Mark & Strauch, Rolf & von Hagen, Jurgen, 2007. "The design of fiscal rules and forms of governance in European Union countries," European Journal of Political Economy, Elsevier, vol. 23(2), pages 338-359, June.
- Hallerberg, Mark & Strauch, Rolf & von Hagen, Jürgen, 2004. "The design of fiscal rules and forms of governance in European Union countries," Working Paper Series 0419, European Central Bank.
- Margit Schratzenstaller, 2005. "A New Revenue Sharing Act and a New Stability Pact for Austria – No Fundamental Changes," Austrian Economic Quarterly, WIFO, vol. 10(1), pages 12-22, January.
- Anthony Annett & JÃ¶rg Decressin & Michael Deppler, 2005. "Reforming the Stability and Growth Pact," IMF Policy Discussion Papers 05/2, International Monetary Fund.
- Stephan Danninger, 2002. "A New Rule; The Swiss Debt Brake," IMF Working Papers 02/18, International Monetary Fund.
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