## Fiscal Rules—Anchoring Expectations for Sustainable Public Finances

_Policy Papers, November 12, 2009_

## Source details

**Canonical URL:** [Fiscal Rules—Anchoring Expectations for Sustainable Public Finances](https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/fiscal-rules-anchoring-expectations-for-sustainable-public-finances-pp4402)

## Other formats

- [Markdown version](/en/publications/policy-papers/issues/2016/12/31/fiscal-rules-anchoring-expectations-for-sustainable-public-finances-pp4402/index.md)
- [Structured JSON version](/en/publications/policy-papers/issues/2016/12/31/fiscal-rules-anchoring-expectations-for-sustainable-public-finances-pp4402/index.json)
- [Bundle manifest](/en/publications/policy-papers/issues/2016/12/31/fiscal-rules-anchoring-expectations-for-sustainable-public-finances-pp4402/bundle-manifest.json)

## Bibliographic details
- Published: November 12, 2009
- Series: Policy Papers
- Stock No: ISBN

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### Context and purpose
- Motivating problem: "The sharp increase in fiscal deficits and public debt in most advanced and several developing economies has raised concerns about the sustainability of public finances and highlighted the need for a significant adjustment over the medium term."
- Primary aims of the paper:
  - Assess the usefulness of fiscal rules in supporting fiscal consolidation.
  - Discuss the design and implementation of rules based on a new data base spanning the whole Fund membership.
  - Explore the fiscal framework that could be adopted as countries emerge from the crisis.

### Scope and data
- Data coverage: "a new data base spanning the whole Fund membership."
- Publication date: November 12, 2009.
- Related platform note: "Our eLibrary offers over 25,000 IMF publications in multiple formats."

### Core findings and emphases
- Fiscal rules can play a role in supporting fiscal consolidation efforts amid rising deficits and public debt.
- Design and implementation details matter; the paper discusses these elements drawing on the new IMF-wide database.
- The paper gives attention to how fiscal frameworks should evolve "as countries emerge from the crisis."

### Thematic subjects addressed
- Budget deficits
- Cross country analysis
- Financial crisis
- Fiscal consolidation
- Fiscal policy
- Fiscal sustainability
- Global Financial Crisis 2008-2009
- Public debt
- Public finance

### Publication and access
- Format indicated: "Download PDF"
- Citation preview provided in Chicago format with access date noted as 9/18/2026.

_Italic: Fiscal Rules—Anchoring Expectations for Sustainable Public Finances (November 12, 2009)._

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## Content in this bundle

- **Executive Summary**
  - [Executive Summary (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/np/pp/eng/2009/_121609.pdf.md){rel="alternate" type="text/markdown"}
  - [Executive Summary (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/np/pp/eng/2009/_121609.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/fiscal-rules-anchoring-expectations-for-sustainable-public-finances-pp4402_