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Fiscal Rules

Author

Listed:
  • Csaba G. Tóth
  • Dávid Berta

    (Magyar Nemzeti Bank)

Abstract

Our methodological handbook seeks to summarise the information available on fiscal rules. Within this framework, it presents the theoretical background to the operation of the rules, an overview of Hungarian practice and the development of the EU rules. In the second chapter, we discuss the theoretical basis of the rules, especially the potential reasons for the emergence of the deficit bias, and the aims and types of different rules. The next chapter presents the key characteristics of the spread of national rules as well as the experiences with their operation. The Hungarian practice is introduced in Chapter 4, which includes a description of the legal context and the presentation of the required fiscal policy. The last chapter summarises the development of the EU?s fiscal framework, and provides a detailed analysis of the currently effective requirements and procedures related to fiscal policy.

Suggested Citation

  • Csaba G. Tóth & Dávid Berta, 2017. "Fiscal Rules," MNB Handbook, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 2(14), pages 1-60.
    • Handle: RePEc:mnb:handbk:v:2:y:2017:i:14:p:60
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    File URL: http://www.mnb.hu/letoltes/mnb-oktata-si-fu-zetek-14-eng-0103.pdf
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    References listed on IDEAS

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    Cited by:

    1. Tóth G., Csaba, 2017. "A nemzeti költségvetési szabályok elterjedése és hatása Európában [The spread of national fiscal rules and their effect in Europe]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(11), pages 1119-1147.

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    More about this item

    Keywords

    fiscal policy; fiscal rules;

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

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