Series: IMF Policy Discussion Papers
Author(s): Anthony Annett , Jörg Decressin , and Michael Deppler
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 February 2005
Keywords: Economic stabilization, Fiscal policy, Fiscal rules, Political economy, structural reforms, implicit liabilities, international monetary fund
A rules-based fiscal framework, such as the EU’s Stability and Growth Pact (SGP), can be an important bulwark against short-sighted policies. Although policies have improved following the SGP’s adopti...