Reforming Fiscal Governance in the European Union

Reforming Fiscal Governance in the European Union

Author: Michal Andrle

Publisher: International Monetary Fund

Published: 2015-05-21

Total Pages: 28

ISBN-13: 1513510029

DOWNLOAD EBOOK

Successive reforms have brought many positive elements to the European Union’s fiscal framework. But they have also increased its complexity. The current system involves an intricate set of fiscal constraints, which hampers effective monitoring and public communication. Compliance has also been weak. This note discusses medium-term reform options to simplify the framework and improve compliance. Based on model simulations and practical considerations, it argues for moving to a two-pillar approach, with a single fiscal anchor (public debt-to-GDP) and a single operational target (an expenditure growth rule, possibly with an explicit debt correction mechanism) linked to the anchor.


Reforming Fiscal Governance in the European Union

Reforming Fiscal Governance in the European Union

Author: Michal Andrle

Publisher: International Monetary Fund

Published: 2015-05-21

Total Pages: 28

ISBN-13: 1498338283

DOWNLOAD EBOOK

Successive reforms have brought many positive elements to the European Union’s fiscal framework. But they have also increased its complexity. The current system involves an intricate set of fiscal constraints, which hampers effective monitoring and public communication. Compliance has also been weak. This note discusses medium-term reform options to simplify the framework and improve compliance. Based on model simulations and practical considerations, it argues for moving to a two-pillar approach, with a single fiscal anchor (public debt-to-GDP) and a single operational target (an expenditure growth rule, possibly with an explicit debt correction mechanism) linked to the anchor.


How to Fix the Euro

How to Fix the Euro

Author: Stephen Pickford

Publisher: Chatham House

Published: 2015-01-31

Total Pages: 56

ISBN-13: 9781784130138

DOWNLOAD EBOOK

The global economic and financial crisis that started in 2007 exposed serious flaws in the euro's original design. This report examines why Europe's economic and monetary union was so badly affected by the crisis, and assesses whether further changes need to be made to the structure of economic governance that underpins it. A Chatham House, Elcano and AREL Report


Fiscal Governance in Europe

Fiscal Governance in Europe

Author: Mark Hallerberg

Publisher: Cambridge University Press

Published: 2009-03-16

Total Pages: 247

ISBN-13: 0521857465

DOWNLOAD EBOOK

Based on data from European Union countries, this book presents a theoretical framework to discuss how governments coordinate budgeting decisions.


Policy Instruments for Sound Fiscal Policies

Policy Instruments for Sound Fiscal Policies

Author: J. Ayuso-i-Casals

Publisher: Springer

Published: 2009-08-14

Total Pages: 367

ISBN-13: 0230271790

DOWNLOAD EBOOK

This volume contributes to empirical research on the role of national fiscal rules and institutions in shaping fiscal policies. It provides original, policy-oriented analysis on a number of questions and gives illuminating conclusions about the devices which promote sound and sustainable policy. Contributors are leading experts.


A Historical Public Debt Database

A Historical Public Debt Database

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 2010-11-01

Total Pages: 27

ISBN-13: 1455209457

DOWNLOAD EBOOK

This paper describes the compilation of the first truly comprehensive database on gross government debt-to-GDP ratios, covering nearly the entire IMF membership (174 countries) and spanning an exceptionally long time period. The database was constructed by bringing together a number of other datasets and information from original sources. For the most recent years, the data are linked to the IMF World Economic Outlook (WEO) database to facilitate regular updates. The paper discusses the evolution of debt-to-GDP ratios across country groups for several decades, episodes of debt spikes and reversals, and a pattern of negative correlation between debt and growth.


Reforming Fiscal Governance in the European Union

Reforming Fiscal Governance in the European Union

Author:

Publisher:

Published: 2015

Total Pages: 28

ISBN-13: 9781513585864

DOWNLOAD EBOOK

Successive reforms have brought many positive elements to the European Union's fiscal framework. But they have also increased its complexity. The current system involves an intricate set of fiscal constraints, which hampers effective monitoring and public communication. Compliance has also been weak. This note discusses medium-term reform options to simplify the framework and improve compliance. Based on model simulations and practical considerations, it argues for moving to a two-pillar approach, with a single fiscal anchor (public debt-to-GDP) and a single operational target (an expenditure growth rule, possibly with an explicit debt correction mechanism) linked to the anchor.


Fiscal Policy in the European Union

Fiscal Policy in the European Union

Author: Jesus Ferreiro

Publisher: Palgrave MacMillan

Published: 2008-11-27

Total Pages: 248

ISBN-13:

DOWNLOAD EBOOK

"This book offers a comprehensive analysis of current national fiscal policies in the European Union and European Monetary Union, and provides insights into the consequences of these fiscal policies on economic activity. With contributions from a range of experts, the book focuses on the coordination problems between the single monetary policy and national fiscal policies, and the negative impact on the capacity of fiscal policy to correct short-term economic fluctuations and to accelerate economic growth in the long-term in European economies. This book is an essential read for all interested in the role of fiscal policy in the European Union."--BOOK JACKET.


Independent Fiscal Councils: Recent Trends and Performance

Independent Fiscal Councils: Recent Trends and Performance

Author: Mr.Roel M. W. J. Beetsma

Publisher: International Monetary Fund

Published: 2018-03-23

Total Pages: 28

ISBN-13: 1484348281

DOWNLOAD EBOOK

Countries increasingly rely on independent fiscal councils to constrain policymakers’ discretion and curb the bias towards excessive deficits and pro-cyclical policies. Since fiscal councils are often recent and heterogeneous across countries, assessing their impact is challenging. Using the latest (2016) vintage of the IMF Fiscal Council Dataset, we focus on two tasks expected to strengthen fiscal performance: the preparation or assessment of forecasts, and the monitoring of compliance with fiscal rules. Tentative econometric evidence suggests that the presence of a fiscal council is associated with more accurate and less optimistic fiscal forecasts, as well as greater compliance with fiscal rules.


Policy Design in the European Union

Policy Design in the European Union

Author: Risto Heiskala

Publisher: Springer

Published: 2018-01-24

Total Pages: 368

ISBN-13: 3319648497

DOWNLOAD EBOOK

This edited collection addresses a paradox at the heart of the European Union: if it is a constantly enlarging empire of governance, how can almost thirty member states design policies as an administrative whole, whilst narrowly approaching all political issues from one economic point of view? The contributors to this collection approach this by studying knowledge production, policy formation and policy implementation in the union. The topics covered include the history of the union, its nature as an empire in the making compared to historical successors as well as current USA and China, formation of union level statistical data and policy documents, paradoxes of fiscal governance, social innovation policy, youth and education policy, energy policy and foreign policy with particular regard to Russia. The concluding chapter outlines five alternative future scenarios for the union extending from collapse and marginalization to the emergence of a federal empire. The book is essential reading for anybody interested in the EU, including students and scholars across a range of disciplines, including sociology, political science, international relations, economics, management studies, public and social policy, science and technology studies, and environmental policy.