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The Return to Fiscal Rules
Francesca Caselli
Hamid Davoodi
Mr. Hamid R Davoodi
Carlos Goncalves
Mr. Gee Hee Hong
Andresa Lagerborg
Mr. Paulo A Medas
Paulo Medas
Anh D. M. Nguyen
Jiae Yoo
出版
International Monetary Fund
, 2022-10-11
主題
Business & Economics / Exports & Imports
Business & Economics / Economics / Macroeconomics
Business & Economics / Public Finance
Business & Economics / Economics / General
ISBN
9798400219467
URL
http://books.google.com.hk/books?id=dCeWEAAAQBAJ&hl=&source=gbs_api
EBook
SAMPLE
註釋
Governments face difficult policy trade-offs with record debt levels, tightening monetary policies, and urgent demands, including food and energy crises, the climate agenda, and population aging. Governments need to communicate fiscal plans to reduce debt sustainability risks and promote consistent macroeconomic policies. Many envisage a return to fiscal rules that had been suspended during the pandemic to strengthen credibility. This situation offers an opportunity to rethink fiscal rules and determine how governments can make fiscal policy more agile, including in responding to crises, without undermining fiscal sustainability. A risk-based medium-term fiscal framework that combines standards, rules, and strengthened institutions would strike a better balance between flexibility and credibility.