A better budget rule
Author
Abstract
Suggested Citation
DOI: 10.1002/pam.20441
Download full text from publisher
References listed on IDEAS
- Alberto F. Alesina & Roberto Perotti, 1999.
"Budget Deficits and Budget Institutions,"
NBER Chapters, in: Fiscal Institutions and Fiscal Performance, pages 13-36,
National Bureau of Economic Research, Inc.
- Alberto Alesina & Roberto Perotti, 1996. "Budget Deficits and Budget Institutions," NBER Working Papers 5556, National Bureau of Economic Research, Inc.
- Mr. Alberto Alesina & Mr. Roberto Perotti, 1996. "Budget Deficits and Budget Institutions," IMF Working Papers 1996/052, International Monetary Fund.
- Barseghyan, Levon & Battaglini, Marco & Coate, Stephen, 2013.
"Fiscal policy over the real business cycle: A positive theory,"
Journal of Economic Theory, Elsevier, vol. 148(6), pages 2223-2265.
- Marco Battaglini & Stephen Coate, 2008. "Fiscal Policy over the Real Business Cycle: A Positive Theory," NBER Working Papers 14047, National Bureau of Economic Research, Inc.
- Laibson, David, 1998. "Life-cycle consumption and hyperbolic discount functions," European Economic Review, Elsevier, vol. 42(3-5), pages 861-871, May.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2011.
"The Forgotten History of Domestic Debt,"
Economic Journal, Royal Economic Society, vol. 121(552), pages 319-350, May.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2008. "The Forgotten History of Domestic Debt," NBER Working Papers 13946, National Bureau of Economic Research, Inc.
- Reinhart, Carmen, 2008. "The Next (but not new) Frontier for Sovereign Default," MPRA Paper 11865, University Library of Munich, Germany.
- Merton, Robert C., 1971.
"Optimum consumption and portfolio rules in a continuous-time model,"
Journal of Economic Theory, Elsevier, vol. 3(4), pages 373-413, December.
- R. C. Merton, 1970. "Optimum Consumption and Portfolio Rules in a Continuous-time Model," Working papers 58, Massachusetts Institute of Technology (MIT), Department of Economics.
- Trehan, Bharat & Walsh, Carl E, 1991.
"Testing Intertemporal Budget Constraints: Theory and Applications to U.S. Federal Budget and Current Account Deficits,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 23(2), pages 206-223, May.
- Bharat Trehan & Carl E. Walsh, 1988. "Testing intertemporal budget constraints: theory and applications to U. S. federal budget and current account deficits," Working Papers in Applied Economic Theory 88-03, Federal Reserve Bank of San Francisco.
- Willem H. Buiter, 1990. "Principles of Budgetary and Financial Policy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262524139, April.
- Allen Schick, 2003. "The Role of Fiscal Rules in Budgeting," OECD Journal on Budgeting, OECD Publishing, vol. 3(3), pages 7-34.
- Bayoumi, Tamim & Goldstein, Morris & Woglom, Geoffrey, 1995.
"Do Credit Markets Discipline Sovereign Borrowers? Evidence from the U.S. States,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(4), pages 1046-1059, November.
- Bayoumi, Tamim & Goldstein, Morris & Woglom, Geoffrey, 1995. "Do Credit Markets Discipline Sovereign Borrowers? Evidence from US States," CEPR Discussion Papers 1088, C.E.P.R. Discussion Papers.
- Dothan, Michael U., 1990. "Prices in Financial Markets," OUP Catalogue, Oxford University Press, number 9780195053128.
- George-Marios Angeletos & David Laibson & Andrea Repetto & Jeremy Tobacman & Stephen Weinberg, 2001. "The Hyberbolic Consumption Model: Calibration, Simulation, and Empirical Evaluation," Journal of Economic Perspectives, American Economic Association, vol. 15(3), pages 47-68, Summer.
- David M. Primo, 2006. "Stop Us Before We Spend Again: Institutional Constraints On Government Spending," Economics and Politics, Wiley Blackwell, vol. 18(3), pages 269-312, November.
- Robert Berne & Leanna Stiefel, 1993. "Cutback budgeting: The long-term consequences," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 12(4), pages 664-684.
- Jonathan A. Rodden & Gunnar S. Eskeland (ed.), 2003. "Fiscal Decentralization and the Challenge of Hard Budget Constraints," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262182297, April.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Fred Thompson & Kawika Pierson & Michael L. Hand & Michael U. Dothan, 2017. "Is a Good Normative Model of Public Spending Run Backward a Good Positive Model?," Public Budgeting & Finance, Wiley Blackwell, vol. 37(2), pages 35-57, June.
- David Laibson, 1997.
"Golden Eggs and Hyperbolic Discounting,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(2), pages 443-478.
- Laibson, David I., 1997. "Golden Eggs and Hyperbolic Discounting," Scholarly Articles 4481499, Harvard University Department of Economics.
- Popescu, Razvan-Florin & Prodan, Sergiu, 2010. "The analysis of budget rules and macroeconomic implications in several developed economies," MPRA Paper 25897, University Library of Munich, Germany, revised 2010.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Aylit T. Romm, 2012. "Retirement Date Effects on Pre-Retirement Wealth Accumulation: An Analysis of US Households," Working Papers 266, Economic Research Southern Africa.
- O'Donoghue, Ted & Rabin, Matthew, 2008.
"Procrastination on long-term projects,"
Journal of Economic Behavior & Organization, Elsevier, vol. 66(2), pages 161-175, May.
- O'Donoghue, Ted & Rabin, Matthew, 2002. "Procrastination on Long-Term Projects," Department of Economics, Working Paper Series qt1bz181nv, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- O'Donoghue, Ted & Rabin, Matthew, 2002. "Procrastination on Long-Term Projects," Department of Economics, Working Paper Series qt5jv059fq, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Ted O'Donoghue & Matthew Rabin, 2003. "Procrastination on Long-Term Projects," Method and Hist of Econ Thought 0303003, University Library of Munich, Germany.
- O'Donoghue, Ted & Rabin, Matthew, 2002. "Procrastination on Long-Term Projects," Working Papers 02-09, Cornell University, Center for Analytic Economics.
- O'Donoghue, Ted & Rabin, Matthew, 2012. "Procrastination on Long-Term Projects," Department of Economics, Working Paper Series qt5zb60651, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Philip Arestis & Andrea Cipollini & Bassam Fattouh, 2004.
"Threshold Effects in the U.S. Budget Deficit,"
Economic Inquiry, Western Economic Association International, vol. 42(2), pages 214-222, April.
- Philip Arestis & Andrea Cipollini & Bassam Fattouh, 2002. "Threshold Effects in the U.S. Budget Deficit," Economics Working Paper Archive wp_358, Levy Economics Institute.
- Philip Arestis & Andrea Cipollini & Bassam Fattouh, 2003. "Threshold Effects in the US Budget Deficit," CEIS Research Paper 18, Tor Vergata University, CEIS.
- Heiko T. Burret & Lars P. Feld, 2014. "A Note on Budget Rules and Fiscal Federalism," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 12(01), pages 03-11, April.
- John T. Cuddington, 1997.
"Analysing the Sustainability of Fiscal Deficits in Developing Countries,"
International Finance
9706001, University Library of Munich, Germany.
- Cuddington, John T., 1997. "Analyzing the sustainability of fiscal deficitsin developing countries," Policy Research Working Paper Series 1784, The World Bank.
- Strulik, Holger & Werner, Katharina, 2023.
"Renewable resource use with imperfect self-control,"
Journal of Economic Behavior & Organization, Elsevier, vol. 212(C), pages 778-795.
- Werner, Katharina & Strulik, Holger, 2020. "Renewable Resource Use with Imperfect Self-Control," VfS Annual Conference 2020 (Virtual Conference): Gender Economics 224628, Verein für Socialpolitik / German Economic Association.
- Strulik, Holger & Werner, Katharina, 2020. "Renewable resource use with imperfect self-control," University of Göttingen Working Papers in Economics 408, University of Goettingen, Department of Economics.
- Francisco Gomes & Michael Haliassos & Tarun Ramadorai, 2021.
"Household Finance,"
Journal of Economic Literature, American Economic Association, vol. 59(3), pages 919-1000, September.
- Haliassos, Michael & Gomes, Francisco, 2020. "Household Finance," CEPR Discussion Papers 14502, C.E.P.R. Discussion Papers.
- Gomes, Francisco J. & Haliassos, Michael & Ramadorai, Tarun, 2020. "Household finance," IMFS Working Paper Series 138, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
- Sergey Sinelnikov & Pavel Kadochnikov & Ilya Trunin & Sergey Chetverikov & Marianne Vigneault, 2006. "Fiscal Federalism in Russia: Soft Budget Constraints of Regional Governments," Published Papers 47, Gaidar Institute for Economic Policy, revised 2012.
- Kang, Jingoo & Kang, Minwook, 2022. "Durable goods as commitment devices under quasi-hyperbolic discounting," Journal of Mathematical Economics, Elsevier, vol. 99(C).
- Börsch-Supan, Axel & Härtl, Klaus & Leite, Duarte Nuno & Ludwig, Alexander, 2018.
"Endogenous Retirement Behavior of Heterogeneous Households Under Pension Reforms,"
MEA discussion paper series
201804, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
- Börsch-Supan, Axel & Härtl, Klaus & Leite, Duarte & Ludwig, Alexander, 2018. "Endogenous retirement behavior of heterogeneous households under pension reforms," SAFE Working Paper Series 221, Leibniz Institute for Financial Research SAFE.
- Blume, Lorenz & Voigt, Stefan, 2013. "The economic effects of constitutional budget institutions," European Journal of Political Economy, Elsevier, vol. 29(C), pages 236-251.
- Suresh M. Sundaresan, 2000. "Continuous‐Time Methods in Finance: A Review and an Assessment," Journal of Finance, American Finance Association, vol. 55(4), pages 1569-1622, August.
- Briggs, Joseph & Cesarini, David & Lindqvist, Erik & Östling, Robert, 2021.
"Windfall gains and stock market participation,"
Journal of Financial Economics, Elsevier, vol. 139(1), pages 57-83.
- Briggs, Joseph & Cesarini, David & Lindqvist, Erik & Östling, Robert, 2015. "Windfall Gains and Stock Market Participation," Working Paper Series 1092, Research Institute of Industrial Economics.
- Joseph S. Briggs & David Cesarini & Erik Lindqvist & Robert Östling, 2015. "Windfall Gains and Stock Market Participation," NBER Working Papers 21673, National Bureau of Economic Research, Inc.
- Krogstrup, Signe & Wyplosz, Charles, 2010. "A common pool theory of supranational deficit ceilings," European Economic Review, Elsevier, vol. 54(2), pages 269-278, February.
- Duffie, Darrell, 2003. "Intertemporal asset pricing theory," Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, edition 1, volume 1, chapter 11, pages 639-742, Elsevier.
- Keys, Benjamin J. & Wang, Jialan, 2019.
"Minimum payments and debt paydown in consumer credit cards,"
Journal of Financial Economics, Elsevier, vol. 131(3), pages 528-548.
- Benjamin J. Keys & Jialan Wang, 2016. "Minimum Payments and Debt Paydown in Consumer Credit Cards," NBER Working Papers 22742, National Bureau of Economic Research, Inc.
- Axel H. Börsch-Supan & Tabea Bucher-Koenen & Michael D. Hurd & Susann Rohwedder, 2018. "Saving Regret," NBER Working Papers 25238, National Bureau of Economic Research, Inc.
- Blake, David & Wright, Douglas & Zhang, Yumeng, 2014.
"Age-dependent investing: Optimal funding and investment strategies in defined contribution pension plans when members are rational life cycle financial planners,"
Journal of Economic Dynamics and Control, Elsevier, vol. 38(C), pages 105-124.
- Blake, David & Wright, Douglas & Zhang, Yumeng, 2011. "Age dependent investing: Optimal funding and investment strategies in defined contribution pension plans when members are rational life cycle financial planners," MPRA Paper 34277, University Library of Munich, Germany.
- Dan Anderberg & Helmut Rainer & Kerstin Roeder, 2016. "Family-Specific Investments and Divorce: A Theory of Dynamically Inconsistent Household Behavior," CESifo Working Paper Series 5996, CESifo.
- Beck, Roland & Ferrucci, Gianluigi & Hantzsche, Arno & Rau-Göhring, Matthias, 2017.
"Determinants of sub-sovereign bond yield spreads – The role of fiscal fundamentals and federal bailout expectations,"
Journal of International Money and Finance, Elsevier, vol. 79(C), pages 72-98.
- Beck, Roland & Ferrucci, Gianluigi & Hantzsche, Arno & Rau-Goehring, Matthias, 2016. "Determinants of sub-sovereign bond yield spreads: the role of fiscal fundamentals and federal bailout expectations," Working Paper Series 1987, European Central Bank.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wly:jpamgt:v:28:y:2009:i:3:p:463-478. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www3.interscience.wiley.com/journal/34787/home .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.