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Author/Editor:
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Ljungman, Gösta
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Publication Date:
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December 01, 2008
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Electronic Access:
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Free Full text
(PDF file size is 759KB).
Use the free
Adobe Acrobat Reader
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.
The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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Summary:
This paper looks at the factors that have to be considered when designing an aggregate expenditure ceiling. It is argued that expenditure ceilings are effective in promoting fiscal discipline and sustainability, but that a number of trade-offs have to be made when setting up a fiscal framework that will survive in a politically charged environment. The paper illustrates the discussion with a case study of medium-term aggregate expenditure ceilings in three countries: Finland, the Netherlands and Sweden.
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Series:
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Working Paper No. 08/282
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Subject(s):
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Government expenditures | Budgetary policy | Finland | Netherlands | Sweden | Fiscal policy | Political economy | Fiscal sustainability | Inflation
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Author's Keyword(s):
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Expenditure ceilings | fiscal rules | fiscal policy |
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