Fiscal Councils : Rationale and Effectiveness

Rationale and Effectiveness

Fiscal Councils : Rationale and Effectiveness
The paper discusses the effectiveness of independent fiscal institutions—or fiscal councils—in taming the deficit bias that emerged in the 1970s. After a review of the main theoretical arguments and recent trends about fiscal councils, we develop a stylized model showing how a fiscal council can effectively mitigate the deficit bias even though... READ MORE...

Publication date: April 2016
ISBN 9781484322901
$18.00

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