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What should fiscal councils do?

Abstract:

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 detai...

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Authors


Lars Lars Calmfors More by this author
Simon Wren-Lewis More by this author
Volume:
537
Series:
Discussion paper series
Publication date:
2011-02-05
URN:
uuid:3d56d1a9-0853-451d-bcd7-19acd74d4d64
Local pid:
oai:economics.ouls.ox.ac.uk:15064
Language:
English

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