01571cas a2200241 a 4500 AALejournalIMF000254 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451848007 1018-5941 BD-DhAAL BD-DhAAL Milesi-Ferretti, Gian. Fiscal Rules and the Budget Process / Gian Milesi-Ferretti. Washington, D.C. : International Monetary Fund, 1996. 1 online resource (39 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines the rationale for the imposition of fiscal rules as a way to reduce budgetary imbalances. It presents theoretical arguments for the existence of a 'fiscal deficit bias' and the empirical evidence on the economic, political and institutional factors leading to this bias. In the context of these findings, it discusses the potential role of legal constraints on the level of key fiscal variables, and of reforms in budgetary procedures in enhancing fiscal discipline. It also evaluates proposals for budgetary reform in Italy. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1996/060 Full text available on IMF http://elibrary.imf.org/view/journals/001/1996/060/001.1996.issue-060-en.xml IMF e-Library