文章基本信息

标题：Fiscal consolidation through fiscal rules?
本地全文：下载
作者：Adam, Alexandra ; Iacob, Silvia Elena
期刊名称：Theoretical and Applied Economics
印刷版ISSN：1841-8678
电子版ISSN：1844-0029
出版年度：2014
卷号：XXI
期号：2(591)
页码：109-114
出版社：Asociatia Generala a Economistilor din Romania - AGER
摘要：Following the financial crisis, the budget deficits and public debt have recorded levels that no one would have considered a few years ago. Therefore, efforts are needed to achieve fiscal consolidation. Both in academic debates and policy many believe that fiscal rules should be the central element of a successful strategy, idea argued by the fact that a rule would restrict the discretionary actions of the government, thus strengthening the fiscal consolidation. However, there are differences when it comes to precisely specifying a rule. Therefore, in this article we want to analyze how much policy makers can rely on fiscal rules, factors necessary to achieve a high degree of effectiveness of fiscal rules, if a fiscal rule should be based on the budget balance level or the debt balance level and we will analyze whether the restrictions imposed ex-ante to the fiscal policy are superior to the ex-post penalties.
关键词：fiscal consolidation; fiscal rules; credibility; budgetary deficit; public debt.