Fiscal rules, inertia and discretionary fiscal policy

References

• Alesina , A and Perotti , R . 1995 . Fiscal expansions and adjustments in the OECD countries . Economic Policy , 21 : 205 – 48 .
   Google Scholar
• Alesina A Perotti R 1996 Budget deficits and budget institutions NBER Working Paper No. 5556
   Google Scholar
• Allsopp , C and Artis , MJ . 2003 . The assessment: EMU, four years on . Oxford Review of Economic Policy , 19 : 1 – 29 .
   Web of Science ®Google Scholar
• Ballabriga F Martinez-Mongay C 2002 Has EMU shifted policy, European Commission DG ECFIN Economic Paper No. 116
   Google Scholar
• Blanchard O 1990 Suggestions for a new set of fiscal indicators OECD Economics Department Working Paper No. 79
   Google Scholar
• Blanchard O Perotti R 2001 An empirical characterisation of the dynamic effects of changes in government spending and taxes on output Mimeo
   Google Scholar
• Bohn , H . 1998 . The behavior of US public debt and deficits . The Quarterly Journal of Economics , 113 : 949 – 63 .
   Web of Science ®Google Scholar
• Braconier H Holden S 1999 The public budget balance – fiscal indicators and cyclical sensitivity in the Nordic countries The National Institute of Economic Research Stockholm Working Paper No. 69
   Google Scholar
• Buti M Van den Noord P 2003 Discretionary fiscal policy and elections: the experience of the early years of EMU OECD Economics Department Working Paper No. 351
   Google Scholar
• Chouraqui JC Hagemann R Sartor N 1990 Indicators of fiscal policy, a re-examination OECD Economics Department Working Paper No. 78
   Google Scholar
• Corsetti G Roubini N 1993 The design of optimal fiscal rules for Europe after 1992 Adjustment and Growth in the European Monetary Union (Eds) F. Torres and F. Giavazzi Cambridge University Press Cambridge pp. 46–82
   Google Scholar
• Drazen M 2000 Political Economy in Macroeconomics, Princeton University Press Princeton NJ
   Google Scholar
• Fatás A Mihov I 2002 The case for restricting fiscal policy discretion CEPR Discussion Paper No. 3277
   Google Scholar
• Friedman M 1959 A Program for Monetary Stability, Fordham University Press New York
   Google Scholar
• Gali , J and Perotti , R . 2003 . Fiscal policy and monetary integration in Europe . Economic Policy , 18 : 534 – 72 .
   Google Scholar
• Giorno C Richardson P Rosevaere D Van den Noord P 1995 Estimating potential output, output gaps and structural budget balances OECD Economics Department Working Paper No. 152
   Google Scholar
• Gramlich EM 1990 Fiscal indicators OECD Economics Department Working Paper No. 80
   Google Scholar
• Hagen von J 2002 More growth for stability: reflections on fiscal policy in Euroland Mimeo
   Google Scholar
• Halleberg M Strauch R von Hagen J 2001 The use and effectiveness of budgetary rules and norms in EU member states, Report Prepared for the Dutch Ministry of Finance by the Institute of European Integration Studies
   Google Scholar
• Heller PS Haas RD Mansur AS 1986 A review of the fiscal impulse measure IMF Occasional Paper, No. 44
   Google Scholar
• Larch M 2002 Adjusting the cyclically-adjusted budget balance Mimeo
   Google Scholar
• Mackenzie , GA . 1989 . Are all summary indicators of the stance of fiscal policy misleading? . IMF Staff Papers , 36 : 743 – 70 .
   Google Scholar
• Martinez-Mongay C 2002 Fiscal policy and the size of governments The Behaviour of Fiscal Authorities (Eds) M. Buti, J. von Hagen and C. Martinez-Mongay, Palgrave, Basingstoke pp. 76–93
   Google Scholar
• Perotti R 2002 Estimating the effects of fiscal policy in OECD countries ECB Working Paper No. 168
   Google Scholar
• Persson T Tabellini G 2000 Political institutions and political outcomes: what are the stylized facts? Mimeo
   Google Scholar
• Taylor , J . 1993 . Discretion versus policy rules in practice . Carnegie-Rochester Series on Public Policy , 39 : 195 – 214 .
   Google Scholar
• Taylor J 2001 Reassessing discretionary fiscal policy Mimeo
   Google Scholar
• Van den Noord P 2000 The size and role of automatic stabilizers in the 1990s and beyond OECD Economics Department Working Paper No. 230
   Google Scholar