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The Tyranny of Rules: Fiscal Discipline, Productive Spending, and Growth

  • Pierre Richard Agénor
  • Devrim Yilmaz
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    File URL: http://hummedia.manchester.ac.uk/schools/soss/economics/discussionpapers/EDP-0616.pdf
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    Paper provided by Economics, The University of Manchester in its series The School of Economics Discussion Paper Series with number 0616.

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    Date of creation: 2006
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    Handle: RePEc:man:sespap:0616
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    Web page: http://www.socialsciences.manchester.ac.uk/subjects/economics/

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    1. 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.
    2. Greiner, Alfred & Semmler, Willi, 2000. "Endogenous Growth, Government Debt and Budgetary Regimes," Journal of Macroeconomics, Elsevier, vol. 22(3), pages 363-384, July.
    3. Michel, Philippe & von Thadden, Leopold & Vidal, Jean-Pierre, 2006. "Debt stabilizing fiscal rules," Working Paper Series 0576, European Central Bank.
    4. Sugata Ghosh & Udayan Roy, 2004. "Fiscal policy, long-run growth, and welfare in a stock-flow model of public goods," Canadian Journal of Economics, Canadian Economics Association, vol. 37(3), pages 742-756, August.
    5. Sugata Ghosh & Charles Nolan, 2005. "The Impact of Simple Fiscal Rules in Growth Models with Public Goods and Congestion," CDMA Working Paper Series 200502, Centre for Dynamic Macroeconomic Analysis.
    6. Pierre-Richard Agénor, 2005. "Fiscal Policy and Endogenous Growth with Public Infrastructure," The School of Economics Discussion Paper Series 0536, Economics, The University of Manchester.
    7. Philip R. Lane, 2002. "The Cyclical Behaviour of Fiscal Policy: Evidence from the OECD," Trinity Economics Papers 20022, Trinity College Dublin, Department of Economics.
    8. Christophe Hurlin, 2005. "The productivy Effects of Public Capital in Developing Countries," Post-Print halshs-00257440, HAL.
    9. Moraga, Jesús Fernández-Huertas & Vidal, Jean-Pierre, 2010. "Fiscal sustainability and public debt in an endogenous growth model," Journal of Pension Economics and Finance, Cambridge University Press, vol. 9(02), pages 277-302, April.
    10. Pierre‐Richard Agénor & Kyriakos C. Neanidis, 2011. "The Allocation Of Public Expenditure And Economic Growth," Manchester School, University of Manchester, vol. 79(4), pages 899-931, 07.
    11. Michael Brauninger, 2005. "The Budget Deficit, Public Debt, and Endogenous Growth," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 7(5), pages 827-840, December.
    12. Peree, Eric & Valila, Timo, 2005. "Fiscal Rules And Public Investment," Economic and Financial Reports 2005/2, European Investment Bank, Economics Department.
    13. Buiter, Willem H, 2001. "Notes on 'A Code for Fiscal Stability.'," Oxford Economic Papers, Oxford University Press, vol. 53(1), pages 1-19, January.
    14. Fair, Ray C & Taylor, John B, 1983. "Solution and Maximum Likelihood Estimation of Dynamic Nonlinear Rational Expectations Models," Econometrica, Econometric Society, vol. 51(4), pages 1169-85, July.
    15. Elena Flores & Gabriele Giudice & Alessandro Turrini, 2005. "The framework for fiscal policy in EMU: What future after five years of experience?," European Economy - Economic Papers 2008 - 2015 223, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    16. Annicchiarico, Barbara & Giammarioli, Nicola, 2004. "Fiscal rules and sustainability of public finances in an endogenous growth model," Working Paper Series 0381, European Central Bank.
    17. Frank Bohn, 2005. "Maastricht criteria versus stability pact," Working Papers 200506, School of Economics, University College Dublin.
    18. Guo, Jang-Ting & Harrison, Sharon G., 2004. "Balanced-budget rules and macroeconomic (in)stability," Journal of Economic Theory, Elsevier, vol. 119(2), pages 357-363, December.
    19. Breuss, Fritz & Roeger, Werner, 2005. "The SGP fiscal rule in the case of sluggish growth: Simulations with the QUEST model," Journal of Policy Modeling, Elsevier, vol. 27(7), pages 767-788, October.
    20. Agenor, Pierre-Richard & Jensen, Henning Tarp & Verghis, Mathew & Yeldan, Erinc, 2006. "Disinflation, fiscal sustainability, and labor market adjustment in Turkey," Policy Research Working Paper Series 3804, The World Bank.
    21. P R Agénor & K C Neanidis, 2006. "Corruption Clubs: The Allocation of Public Expenditure and Economic Growth," Centre for Growth and Business Cycle Research Discussion Paper Series 69, Economics, The Univeristy of Manchester.
    22. David R. Stockman, 2001. "Balanced-Budget Rules: Welfare Loss and Optimal Policies," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(2), pages 438-459, July.
    23. Agenor, Pierre-Richard & Moreno-Dodson, Blanca, 2006. "Public infrastructure and growth : new channels and policy implications," Policy Research Working Paper Series 4064, The World Bank.
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