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- W2548681488 abstract "Institutions that aim to constrain policy discretion in order to promote sound fiscal policies are once again at the forefront of the policy debate. Interest in fiscal councils – independent watchdogs active in the public debate – has grown rapidly in recent years. In this paper, we present the first cross-country dataset summarising key characteristics of fiscal councils among International Monetary Fund members. The data document a surge in the number of fiscal councils since the 2008–09 economic and financial crisis, and also illustrate that well-designed fiscal councils are associated with stronger fiscal performance and better macro-economic and budgetary forecasts. Key features of effective fiscal councils include operational independence from politics, the provision or public assessment of budgetary forecasts, a strong presence in the public debate and the monitoring of compliance with fiscal policy rules." @default.
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- W2548681488 date "2017-08-30" @default.
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- W2548681488 title "Strengthening Post-Crisis Fiscal Credibility: Fiscal Councils on the Rise - A New Dataset" @default.
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- W2548681488 doi "https://doi.org/10.1111/1475-5890.12130" @default.
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