Arbeitspapier
What should fiscal councils do?
The paper analyses theoretically what role fiscal councils could play and surveys empirically the activities of existing councils. Case studies of the Swedish Fiscal Policy Council and the UK Office for Budget Responsibility are done. It is concluded that fiscal councils should be advisory, rather than decision-making, and work as complements, rather than substitutes, to fiscal rules. A key issue is the political fragility of fiscal councils and how their long-run viability should be secured. Three ways of guaranteeing their independence are suggested: (1) reputation-building; (2)formal national rules; and (3) international monitoring.
- Language
-
Englisch
- Bibliographic citation
-
Series: CESifo Working Paper ; No. 3382
- Classification
-
Wirtschaft
National Budget, Deficit, and Debt: General
- Subject
-
deficit bias
fiscal rules
fiscal councils
Öffentliche Finanzkontrolle
Öffentliche Schulden
Finanzpolitik
Wirtschaftspolitische Beratung
Wirtschaftspolitik
Öffentliche Finanzwirtschaft
Schweden
Großbritannien
EU-Staaten
USA
- Event
-
Geistige Schöpfung
- (who)
-
Calmfors, Lars
Wren-Lewis, Simon
- Event
-
Veröffentlichung
- (who)
-
Center for Economic Studies and ifo Institute (CESifo)
- (where)
-
Munich
- (when)
-
2011
- Handle
- Last update
-
10.03.2025, 11:46 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Calmfors, Lars
- Wren-Lewis, Simon
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2011
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