Reforming Fiscal Governance in the European Union /
Successive reforms have brought many positive elements to the European Union's fiscal framework. But they have also increased its complexity. The current system involves an intricate set of fiscal constraints, which hampers effective monitoring and public communication. Compliance has also been...
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| Drugi avtorji: | , , |
| Format: | Revija |
| Jezik: | English |
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Washington, D.C. :
International Monetary Fund,
2015.
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| Serija: | Staff Discussion Notes; Staff Discussion Notes ;
No. 2015/009 |
| Online dostop: | Full text available on IMF |
| Izvleček: | Successive reforms have brought many positive elements to the European Union's fiscal framework. But they have also increased its complexity. The current system involves an intricate set of fiscal constraints, which hampers effective monitoring and public communication. Compliance has also been weak. This note discusses medium-term reform options to simplify the framework and improve compliance. Based on model simulations and practical considerations, it argues for moving to a two-pillar approach, with a single fiscal anchor (public debt-to-GDP) and a single operational target (an expenditure growth rule, possibly with an explicit debt correction mechanism) linked to the anchor. |
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| Opis knjige/članka: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Fizični opis: | 1 online resource (28 pages) |
| Format: | Mode of access: Internet |
| ISSN: | 2617-6750 |
| Dostop: | Electronic access restricted to authorized BRAC University faculty, staff and students |