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4 Addressing the Procyclical Bias

4 Addressing the Procyclical Bias »

Source: Promoting Fiscal Discipline

Series: Books

Author(s): Manmohan Kumar , and Teresa Ter-Minassian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 October 2007

ISBN: 9781589066090

Keywords: fiscal policy, expenditure, fiscal performance, fiscal rules, fiscal discipline

Since political economy factors are an important determinant of procyclicality of policies, measures to contain the misuse of fiscal policy discretion can be benefic...

3 Cyclicality of Fiscal Policy

3 Cyclicality of Fiscal Policy »

Source: Promoting Fiscal Discipline

Series: Books

Author(s): Manmohan Kumar , and Teresa Ter-Minassian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 October 2007

ISBN: 9781589066090

Keywords: fiscal policy, expenditure, fiscal performance, fiscal rules, fiscal discipline

Although some debate on the feasibility and effectiveness of fiscal policy in stabilizing output fluctuations continues, there is little disagreement that, as a rule...

2 Discretion, Institutions, and Fiscal Discipline

2 Discretion, Institutions, and Fiscal Discipline »

Source: Promoting Fiscal Discipline

Series: Books

Author(s): Manmohan Kumar , and Teresa Ter-Minassian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 October 2007

ISBN: 9781589066090

Keywords: fiscal policy, expenditure, fiscal performance, fiscal rules, fiscal discipline

Economic analysis has long recognized that policymakers, particularly in the fiscal domain, act quite rationally according to specific incentives, including reelecti...

1 Fiscal Discipline: Key Issues and Overview

1 Fiscal Discipline: Key Issues and Overview »

Source: Promoting Fiscal Discipline

Series: Books

Author(s): Manmohan Kumar , and Teresa Ter-Minassian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 October 2007

ISBN: 9781589066090

Keywords: fiscal policy, expenditure, fiscal performance, fiscal rules, fiscal discipline

Since the early 1970s, fiscal deficits and rising public debt have been ubiquitous features of government budgetary positions. Indeed, in aggregate, fiscal balances...

5 Fiscal Responsibility Laws

5 Fiscal Responsibility Laws »

Source: Promoting Fiscal Discipline

Series: Books

Author(s): Manmohan Kumar , and Teresa Ter-Minassian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 October 2007

ISBN: 9781589066090

Keywords: fiscal policy, expenditure, fiscal performance, fiscal rules, fiscal discipline

The search for more comprehensive institutional arrangements to improve fiscal policy outcomes intensified during the last decade. Analogous to the monetary policy d...

Promoting Fiscal Discipline

Promoting Fiscal Discipline »

Series: Books

Author(s): Manmohan Kumar , and Teresa Ter-Minassian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 October 2007

DOI: http://dx.doi.org/10.5089/9781589066090.071

ISBN: 9781589066090

Keywords: fiscal policy, expenditure, fiscal performance, fiscal rules, fiscal discipline

Fiscal discipline is essential to improve and sustain economic performance, maintain macroeconomic stability, and reduce vulnerabilities. Discipline is especially important if countries, industrial as well as devel...

Back Matter

Back Matter »

Source: Promoting Fiscal Discipline

Series: Books

Author(s): Manmohan Kumar , and Teresa Ter-Minassian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 October 2007

ISBN: 9781589066090

Keywords: fiscal policy, expenditure, fiscal performance, fiscal rules, fiscal discipline

Fiscal discipline is essential to improve and sustain economic performance, maintain macroeconomic stability, and reduce vulnerabilities. Discipline is especially important if countries, industrial as well as devel...

Front Matter

Front Matter »

Source: Promoting Fiscal Discipline

Series: Books

Author(s): Manmohan Kumar , and Teresa Ter-Minassian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 October 2007

ISBN: 9781589066090

Keywords: fiscal policy, expenditure, fiscal performance, fiscal rules, fiscal discipline

Fiscal discipline is essential to improve and sustain economic performance, maintain macroeconomic stability, and reduce vulnerabilities. Discipline is especially important if countries, industrial as well as devel...

6 The Role for Fiscal Agencies

6 The Role for Fiscal Agencies »

Source: Promoting Fiscal Discipline

Series: Books

Author(s): Manmohan Kumar , and Teresa Ter-Minassian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 October 2007

ISBN: 9781589066090

Keywords: fiscal policy, expenditure, fiscal performance, fiscal rules, fiscal discipline

There is a growing recognition that the design and implementation of economic policies depend to a considerable extent on the incentives of policymakers. It is also...