INDEPENDENT FISCAL AGENCIES

@inproceedings{Debrun2009INDEPENDENTFA,
  title={INDEPENDENT FISCAL AGENCIES},
  author={Xavier Debrun and David Hauner and Manmohan S. Kumar},
  year={2009}
}
There has been a considerable literature regarding the incentives of policymakers as a prime reason for persistent fiscal deficits and a variety of fiscal rules have been proposed as a remedy. However, the often inadequate flexibility of rules and the success of policy delegation in the monetary realm have motivated a small but growing number of studies that suggest delegating some aspects of fiscal policy to what will here be called 'independent fiscal agencies'. This paper surveys the related… CONTINUE READING

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