The relevance of fiscal rules for fiscal and yield developments

Numerical fiscal rules mitigate the bias of pro-cyclicality, as an alternative to discretionary measures conducted by policy makers. We assess whether fiscal rules impact budget balances and sovereign yields, and we perform a simulation exercise to compute debt developments of EU countries, assuming...

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Bibliographic Details
Main Author: Afonso, António (author)
Other Authors: Guimarães, Ana Sofia (author)
Format: workingPaper
Language:eng
Published: 2014
Subjects:
Numerical Fiscal Rules
Expenditure Rules
Budget Balance
Sovereign Yields
Online Access:http://hdl.handle.net/10400.5/7432
Country:Portugal
Oai:oai:www.repository.utl.pt:10400.5/7432

Internet

http://hdl.handle.net/10400.5/7432

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