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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- 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.
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- Stephan Danninger, 2002. "A New Rule; The Swiss Debt Brake," IMF Working Papers 02/18, International Monetary Fund.
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- Andrés Fuentes & Eckhard Wurzel & Andreas Wörgötter, 2006. "Reforming Federal Fiscal Relations in Austria," OECD Economics Department Working Papers 474, OECD Publishing.
- Anthony M Annett & JÃ¶rg Decressin & Michael Deppler, 2005. "Reforming the Stability and Growth Pact," IMF Policy Discussion Papers 05/2, International Monetary Fund.
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