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Evaluating Designs for a Fiscal Rule in Bulgaria [electronic resource] Andritzky, Jochen R..

Author/Creator:
Andritzky, Jochen R.
Publication:
Washington, D.C. : International Monetary Fund, 2011.
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 11/272.
IMF Working Papers; Working Paper No. 11/272
Format/Description:
Government document
Book
1 online resource (25 p.)
Local subjects:
Annual budget.
Budget.
Budget balance.
Budget deficit.
Budget deficits.
Budget expenditures.
Budget law.
Budget process.
Budget Systems.
Budgetary impact.
Capital expenditures.
Currency boards.
Expenditure.
Expenditure ceiling.
Expenditure constraint.
Expenditure control.
Expenditure growth.
Expenditure items.
Expenditure policy.
Expenditure ratio.
Expenditures.
Fiscal accounts.
Fiscal adjustment.
Fiscal adjustments.
Fiscal affairs.
Fiscal affairs department.
Fiscal balance.
Fiscal budgets.
Fiscal commitments.
Fiscal council.
Fiscal deficits.
Fiscal effort.
Fiscal framework.
Fiscal frameworks.
Fiscal funding.
Fiscal governance.
Fiscal institutions.
Fiscal issue.
Fiscal loosening.
Fiscal outcomes.
Fiscal policies.
Fiscal Policy.
Fiscal program.
Fiscal prudence.
Fiscal responsibility.
Fiscal responsibility law.
Fiscal rule.
Fiscal rules.
Fiscal savings.
Fiscal stance.
Fiscal surpluses.
Fiscal sustainability.
Fiscal target.
Fiscal targets.
Fiscal tightening.
Fiscal variable.
Fiscal variables.
General government expenditure.
Government expenditure.
Medium-term fiscal framework.
National budget.
National fiscal rules.
Policy Coordination.
Policy Designs and Consistency.
Policy Objectives.
Prudent fiscal policy.
Public debt.
Public Expenditures, Investment, and Finance.
Public financial management.
Reserve management policy.
Revenue collection.
Tax increases.
Tax policy.
Tax rates.
Taxation.
Bulgaria.
Summary:
The enhanced Stability and Growth Pact calls on euro area members and aspirants to set boundaries to fiscal deficits through high-level legislation. A limit on the deficit, such as the deficit ceiling in Bulgaria''s organic budget law, serves to protect solvency. The recent crisis clearly indicated that the key challenges are not only to contain the deficit but also to avoid a procyclical stance during upswings and to build a buffer for rainy days. Ideally, fiscal policymaking is guided by a fiscal rule that adapts through the economic cycle. This paper lays out the objectives of fiscal rules and analyzes how these objectives can be met in Bulgaria through either a growth-adjusted balance rule or an expenditure rule complemented by a deficit ceiling.
Notes:
Description based on print version record.
Contributor:
Andritzky, Jochen R.
Other format:
Print Version:
ISBN:
1463925271:
9781463925277
ISSN:
1018-5941
Publisher Number:
10.5089/9781463925277.001
Access Restriction:
Restricted for use by site license.
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