Read Structural Breaks in Fiscal Performance: Did Fiscal Responsibility Laws Have Anything to Do with Them?

Structural Breaks in Fiscal Performance: Did Fiscal Responsibility Laws Have Anything to Do with Them?

Ana Corbacho

4.9/5 (21795 ratings)

Description:In recent years, many countries have adopted Fiscal Responsibility Laws to strengthen fiscal institutions and promote fiscal discipline in a credible, predictable and transparent manner. Still, results on the effectiveness of these laws remain tentative. In this paper, we test empirically whether fiscal performance, measured as the level of primary fiscal balances and their volatility, indeed improved after the implementation of Fiscal Responsibility Laws in a sample of Latin American and advanced economies. We show that traditional econometric approaches, which rely on the use of dummies in time series or panel regressions, yield biased estimates. In contrast, our empirical strategy recognizes that, a priori, the timing of the effect of these laws on fiscal performance is unknown, while controlling for the impact of the business and commodity cycles on fiscal outcomes. Overall, we find limited empirical evidence in support of the view that Fiscal Responsibility Laws have had a distinguishable effect on fiscal performance. However, Fiscal Responsibility Laws could still have other positive effects on the conduct of fiscal policy not analyzed here, for instance, through enhanced transparency and guidance in the budget process and lower risk premia.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Structural Breaks in Fiscal Performance: Did Fiscal Responsibility Laws Have Anything to Do with Them?. To get started finding Structural Breaks in Fiscal Performance: Did Fiscal Responsibility Laws Have Anything to Do with Them?, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

Pages: 29

Format: PDF, EPUB & Kindle Edition

Publisher: Not Avail

Release: 2010

ISBN: 6613877743

Description: In recent years, many countries have adopted Fiscal Responsibility Laws to strengthen fiscal institutions and promote fiscal discipline in a credible, predictable and transparent manner. Still, results on the effectiveness of these laws remain tentative. In this paper, we test empirically whether fiscal performance, measured as the level of primary fiscal balances and their volatility, indeed improved after the implementation of Fiscal Responsibility Laws in a sample of Latin American and advanced economies. We show that traditional econometric approaches, which rely on the use of dummies in time series or panel regressions, yield biased estimates. In contrast, our empirical strategy recognizes that, a priori, the timing of the effect of these laws on fiscal performance is unknown, while controlling for the impact of the business and commodity cycles on fiscal outcomes. Overall, we find limited empirical evidence in support of the view that Fiscal Responsibility Laws have had a distinguishable effect on fiscal performance. However, Fiscal Responsibility Laws could still have other positive effects on the conduct of fiscal policy not analyzed here, for instance, through enhanced transparency and guidance in the budget process and lower risk premia.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Structural Breaks in Fiscal Performance: Did Fiscal Responsibility Laws Have Anything to Do with Them?. To get started finding Structural Breaks in Fiscal Performance: Did Fiscal Responsibility Laws Have Anything to Do with Them?, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

Special Offer | $0.00

Special Offer! | $0.00

Structural Breaks in Fiscal Performance: Did Fiscal Responsibility Laws Have Anything to Do with Them?

Structural Breaks in Fiscal Performance: Did Fiscal Responsibility Laws Have Anything to Do with Them?

More Books

More Than Revenue : Taxation as a Development Tool (Paperback)--by Ana Corbacho [2013 Edition]

More Than Revenue : Taxation as a Development Tool (Paperback)--by Ana Corbacho [2013 Edition]

More than Revenue: Taxation as a Development Tool (Development in the Americas (Paperback))

More than Revenue: Taxation as a Development Tool (Development in the Americas (Paperback))

The ASEAN Way: Sustaining Growth and Stability

The ASEAN Way: Sustaining Growth and Stability

More Than Revenue: Taxation as a Development Tool (Development in the Americas (Paperback)) (Paperback) - Common

More Than Revenue: Taxation as a Development Tool (Development in the Americas (Paperback)) (Paperback) - Common

Recaudar no basta: los impuestos como instrumento de desarrollo (Spanish Edition)

Recaudar no basta: los impuestos como instrumento de desarrollo (Spanish Edition)

Argentina: Macroeconomic Crisis and Household Vulnerability

Argentina: Macroeconomic Crisis and Household Vulnerability

Recaudar no basta: los impuestos como instrumento de desarrollo (Desarrollo en las Américas) (Spanish Edition)

Recaudar no basta: los impuestos como instrumento de desarrollo (Desarrollo en las Américas) (Spanish Edition)

Afrodita: Relatos sexuales de andar por casa

Afrodita: Relatos sexuales de andar por casa

Las Instituciones Fiscales del Mañana

Las Instituciones Fiscales del Mañana