Expenditure Ceilings—A Survey
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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.
Series:
Working Paper No. 2008/282
Subject:
Budget planning and preparation Expenditure External debt Fiscal governance Fiscal policy Inflation Interest payments Prices Public financial management (PFM)
English
Publication Date:
December 1, 2008
ISBN/ISSN:
9781451871401/1018-5941
Stock No:
WPIEA2008282
Pages:
55
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