01688cas a2200241 a 4500 AALejournalIMF001834 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451843651 1018-5941 BD-DhAAL BD-DhAAL Danninger, Stephan. A New Rule : The Swiss Debt Brake / Stephan Danninger. Washington, D.C. : International Monetary Fund, 2002. 1 online resource (27 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 The paper provides an international comparison and a comprehensive analysis of a new fiscal expenditure rule for the federal government in Switzerland. The proposed rule has two innovative features: it aims at a structurally balanced budget in the short-run by annually setting a cyclically adjusted expenditure ceiling, and it arrests the accumulation of public debt via corrections of future expenditure targets for past deviations from projected fiscal balances. The paper finds that the new rule is likely to reduce procyclical tendencies in fiscal policy and that its objectives are adequate in meeting long-run fiscal challenges arising from demographic changes. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2002/018 Full text available on IMF http://elibrary.imf.org/view/journals/001/2002/018/001.2002.issue-018-en.xml IMF e-Library