Read Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe

Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe

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Description:This paper studies how fiscal rules interact with the intergovernmental fiscal framework to foster fiscal discipline among European subnational governments. We use political variables describing the fiscal attitudes of the central government as instruments to obtain consistent estimates of the impact of subnational fiscal rules on fiscal balances. The results suggest that the discipline-enhancing effect of fiscal rules is weaker when there are large "vertical fiscal imbalances" that is, large differences in revenue and spending assignments across the different levels of government. These findings imply that separate reforms to reduce excessive vertical fiscal imbalances complement a rules-based fiscal framework that is aimed at fostering fiscal discipline.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe. To get started finding Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe, you are right to find our website which has a comprehensive collection of manuals listed.
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Format: PDF, EPUB & Kindle Edition

Publisher: International Monetary Fund

Release: 2016

ISBN: 1484328175

Description: This paper studies how fiscal rules interact with the intergovernmental fiscal framework to foster fiscal discipline among European subnational governments. We use political variables describing the fiscal attitudes of the central government as instruments to obtain consistent estimates of the impact of subnational fiscal rules on fiscal balances. The results suggest that the discipline-enhancing effect of fiscal rules is weaker when there are large "vertical fiscal imbalances" that is, large differences in revenue and spending assignments across the different levels of government. These findings imply that separate reforms to reduce excessive vertical fiscal imbalances complement a rules-based fiscal framework that is aimed at fostering fiscal discipline.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe. To get started finding Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

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Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe

Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe

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