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What should fiscal councils do?

Abstract:

Fiscal watchdogs, so-called fiscal councils, have been proposed as a method to counter deficit bias of fiscal policy. The paper analyses theoretically what role fiscal councils could play and surveys empirically the activities of existing councils. Case studies of the Swedish Fiscal Policy Council and the UK Office for Budget Responsibility are done. It is concluded that fiscal councils should be advisory, rather than decision-making, and work as complements, rather than substitutes, to fisca...

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Files:
Publisher copy:
10.1111/j.1468-0327.2011.00273.x

Authors


Publisher:
Blackwell Publishing
Journal:
Economic Policy
Volume:
26
Issue:
68
Pages:
649 - 695
Publication date:
2011-10-01
DOI:
ISSN:
0266-4658
Language:
English
UUID:
uuid:b7e952d7-15f3-4e0b-aee4-a0d361cad3ca
Local pid:
oai:economics.ouls.ox.ac.uk:15225
Deposit date:
2011-10-27

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