What should fiscal councils do?
Fiscal councils now exist in a number of countries. This paper first considers the extent of deficit bias, potential explanations for it, and how independent institutions could help reduce it. Are fiscal councils complements to or substitutes for fiscal rules, and why do none at present have any...
| Główni autorzy: | , |
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| Format: | Working paper |
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University of Oxford
2011
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| _version_ | 1826297831991803904 |
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| author | Wren-Lewis, S Calmfors, L |
| author_facet | Wren-Lewis, S Calmfors, L |
| author_sort | Wren-Lewis, S |
| collection | OXFORD |
| description | Fiscal councils now exist in a number of countries. This paper first considers the extent of deficit bias, potential explanations for it, and how independent institutions could help reduce it. Are fiscal councils complements to or substitutes for fiscal rules, and why do none at present have any formal control over fiscal decisions? The paper then outlines the specific tasks that a fiscal council might undertake, and examines how these are combined in eleven fiscal councils. A more detailed examination is undertaken of the fiscal councils in Sweden and the UK. The paper draws some conclusions on the role of fiscal forecasting, ensuring independence, and the provision of policy advice. |
| first_indexed | 2024-03-07T04:37:38Z |
| format | Working paper |
| id | oxford-uuid:d080fcb5-ec7c-4be6-bf5c-7084a9014ea2 |
| institution | University of Oxford |
| last_indexed | 2024-03-07T04:37:38Z |
| publishDate | 2011 |
| publisher | University of Oxford |
| record_format | dspace |
| spelling | oxford-uuid:d080fcb5-ec7c-4be6-bf5c-7084a9014ea22022-03-27T07:50:27ZWhat should fiscal councils do?Working paperhttp://purl.org/coar/resource_type/c_8042uuid:d080fcb5-ec7c-4be6-bf5c-7084a9014ea2Bulk import via SwordSymplectic ElementsUniversity of Oxford2011Wren-Lewis, SCalmfors, LFiscal councils now exist in a number of countries. This paper first considers the extent of deficit bias, potential explanations for it, and how independent institutions could help reduce it. Are fiscal councils complements to or substitutes for fiscal rules, and why do none at present have any formal control over fiscal decisions? The paper then outlines the specific tasks that a fiscal council might undertake, and examines how these are combined in eleven fiscal councils. A more detailed examination is undertaken of the fiscal councils in Sweden and the UK. The paper draws some conclusions on the role of fiscal forecasting, ensuring independence, and the provision of policy advice. |
| spellingShingle | Wren-Lewis, S Calmfors, L What should fiscal councils do? |
| title | What should fiscal councils do? |
| title_full | What should fiscal councils do? |
| title_fullStr | What should fiscal councils do? |
| title_full_unstemmed | What should fiscal councils do? |
| title_short | What should fiscal councils do? |
| title_sort | what should fiscal councils do |
| work_keys_str_mv | AT wrenlewiss whatshouldfiscalcouncilsdo AT calmforsl whatshouldfiscalcouncilsdo |