Arbeitspapier
The design of national fiscal frameworks and their budgetary impact
This study analyses the link between fiscal frameworks and their budgetary impact. We look at different features of national numerical fiscal rules in combination with fiscal councils and medium-term budgeting frameworks. We construct our own time-varying dataset for national fiscal frameworks for the period 1990-2012 covering all 27 EU Member States and estimate a dynamic panel on aggregate and disaggregated fiscal policy variables. We find strong support that numerical fiscal rules help to improve the primary balance, and that the budgetary impact can be further strengthened when supported by independent fiscal councils and an effective medium-term budgeting framework.
- Language
-
Englisch
- Bibliographic citation
-
Series: ECB Working Paper ; No. 1588
- Classification
-
Wirtschaft
Policy Objectives; Policy Designs and Consistency; Policy Coordination
Fiscal Policy
National Budget, Deficit, and Debt: General
- Subject
-
fiscal council
fiscal framework
Fiscal Policy
fiscal rules
medium term budgeting framework
- Event
-
Geistige Schöpfung
- (who)
-
Nerlich, Carolin
Reuter, Wolf Heinrich
- Event
-
Veröffentlichung
- (who)
-
European Central Bank (ECB)
- (where)
-
Frankfurt a. M.
- (when)
-
2013
- Handle
- Last update
- 10.03.2025, 11:42 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
- Nerlich, Carolin
- Reuter, Wolf Heinrich
- European Central Bank (ECB)
Time of origin
- 2013
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