Arbeitspapier
Do fiscal rules constrain fiscal policy? A meta-regression-analysis
We implement a meta-regression-analysis for the budgetary impact of numerical fiscal rules. Based on 30 studies published in the last decade, we offer a consensus estimate with respect to the level of statistical significance, provide suggestive evidence for the effect size, and identify study features of relevance for the measured impact of fiscal rules. Overall, the results document a constraining impact of rules. However, this impact is weakened if refined identification strategies are employed. Moreover, the results provide evidence for a publication bias in which journals are more likely to report constraining and statistically significant effects compared to working papers. We further provide recommendations for future research on the budgetary impact of fiscal rules.
- Language
-
Englisch
- Bibliographic citation
-
Series: ZEW Discussion Papers ; No. 16-027
- Classification
-
Wirtschaft
National Government Expenditures and Related Policies: General
National Debt; Debt Management; Sovereign Debt
- Subject
-
fiscal rules
meta-regression-analysis
public finances
- Event
-
Geistige Schöpfung
- (who)
-
Heinemann, Friedrich
Moessinger, Marc-Daniel
Yeter, Mustafa
- Event
-
Veröffentlichung
- (who)
-
Zentrum für Europäische Wirtschaftsforschung (ZEW)
- (where)
-
Mannheim
- (when)
-
2016
- Handle
- URN
-
urn:nbn:de:bsz:180-madoc-409042
- Last update
-
10.03.2025, 11:44 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
- Heinemann, Friedrich
- Moessinger, Marc-Daniel
- Yeter, Mustafa
- Zentrum für Europäische Wirtschaftsforschung (ZEW)
Time of origin
- 2016
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Do Fiscal Rules Constrain Fiscal Policy? A Meta-Regression-Analysis
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Exchange rate regimes and fiscal discipline in OECD countries
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Sovereign risk premia: The link between fiscal rules and stability culture
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Abgangszeugnis Friedrich Heinemann
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Do Fiscal Rules Constrain Fiscal Policy? A Meta-Regression-Analysis
State-owned enterprises, fiscal transparency, and the circumvention of fiscal rules: The case of Germany
Moving from broad to targeted pandemic fiscal support
After the Death of Inflation: Will Fiscal Drag Survive?
Exchange rate regimes and fiscal discipline in OECD countries
The effects of fiscal rules on public finances and their identification
EMU and fiscal discipline: the end of the depreciation threat
Sovereign risk premia: The link between fiscal rules and stability culture
Sovereign risk premia: The link between fiscal rules and stability culture
Incumbency and expectations of fiscal rule compliance: Evidence from surveys of German policy makers
Abgangszeugnis Friedrich Heinemann