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A Fiscal Rule that Has Teeth: A Suggestion for a Fiscal Sustainability Council Underpinned by the Financial Markets
fiscal policy European Union sustainability
2009/7/17
In this paper, we set out to examine an efficient fiscal-policy framework for a monetary union. We illustrate that fiscal policy’s bias toward budget deficit only temporarily ceased at the end of the...
Judging the Sustainability of Czech Public Finances
public finances sustainability index budget processes fiscal illusion
2009/7/17
The position of Czech public finances has been pronounced unsustainable by economists, while politicians claim more or less the opposite. Correct judgment is complicated by the purposeful use of argu...