There are four sets of questions that fiscal indicators can help answer:(1) Of the changes in
the fiscal position, what part is due to changes in the economic environment and what part is …

During the past decade, the formulation of fiscal policy has been increasingly founded on
medium-term considerations associated with public debt and economic efficiency. In this …

IN PRACTICE, fiscal policies may be ap-plied inappropriately because conventional
measures of the fiscal deficit miscalculate the public sector's true budget constraint and give …

Government deficits reinterpreted Willem H. Buiter Public sector debt and deficits are a
matter of concern to governments throughout the world. After presenting data on the public …

The use of fiscal policy as a stabilization device has all but vanished, more or less explicitly
in Europe and de facto in the United States. The practical consequences have not been …

Fiscal policy seeks to equilibrate the public sector's financing needs with the private sector's
demand for investment and a sustainable balance of payments. Correct measurement of the …

The fiscal multiplier is the ratio of a change in output (∆ Y) to an exogenous change in the
fiscal deficit (∆ G is used here as a shortcut, it could be also-∆ T) with respect to their …

The European sovereign debt crisis is an unwelcome reminder that no country can ignore
the requirement of fiscal discipline. It should also clarify many issues on the nature of fiscal …

What are fiscal policy rules? What are the principal benefits and drawbacks associated with
various fiscal rules, particularly compared with alternative approaches to fiscal adjustment …

This paper shows how the richer frequency and variety of fiscal policy shocks available in an
international sample can be analyzed recognizing the heterogeneity that exists across …