Democratic Accountability, Deficit Bias, and Independent Fiscal Agencies

Democratic Accountability, Deficit Bias, and Independent Fiscal Agencies
Despite growing interest among policymakers, there is no theory of independent fiscal institutions. The emerging literature on "fiscal councils" typically makes informal parallels with the theory of central bank independence, but a very simple formal example shows that such a shortcut is flawed. The paper then illustrates key features of a model... READ MORE...

Publication date: July 2011
ISBN 9781462313327
$18.00

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