Titlebook: Rules-Based Fiscal Policy in Emerging Markets; Background, Analysis George Kopits Book 2004 Palgrave Macmillan, a division of Macmillan Pub

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Rules for Stabilizing Intergovernmental Transfers in Latin Americadamental justification is that monetary control is exercised only at the federal level. Even if an economic disturbance is symmetric across regions, then there is the complication of coordinating fiscal responses by subnational jurisdictions. States or provinces represent economic areas with complet

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Fiscal Rules on the Road to an Enlarged European Unionwith a public debt stock below 60 percent of GDP. These revisions would also provide more flexibility to most countries which recently completed, or are currently candidates for, EU accession and which have moderate debt ratios and high public investment.

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Rules-Based Fiscal Policy in Emerging Markets978-1-137-00157-3Series ISSN 2947-9312 Series E-ISSN 2947-9320

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Fiscal Rules from a Political Economy PerspectivePersistent deficits, implying a secular growth of debt, have led many to argue that fiscal rules may play an important role in helping reduce or eliminate deficits and control the growth of government debt. There are two general classes of fiscal rules. First, there are legislated quantitative constraints on fiscal policy.

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EMU Fiscal Rules: What Can and Cannot be ExportedA basic feature of Europe’s Economic and Monetary Union (EMU) is strong fiscal discipline. The Maastricht Treaty sets tight public finance requirements for joining the euro area while the Stability and Growth Pact (SGP) makes fiscal prudence a permanent feature within the area.