The Expenditure Benchmark: Complex and Unsuitable for Independent Fiscal Institutions.

IF 1.5 Q2 ECONOMICS
Comparative Economic Studies Pub Date : 2021-01-01 Epub Date: 2021-06-28 DOI:10.1057/s41294-021-00151-6
Carlos Fonseca Marinheiro
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引用次数: 5

Abstract

The expenditure benchmark is an indicator for the evolution of public expenditure introduced in 2011 in the already complex European fiscal rules framework, being a very specific application of an expenditure rule. However, it is a quite complex indicator and not suitable for the use at national level by the Independent Fiscal Institutions-that monitor compliance with national fiscal rules-as it relies on the European Commission's data inputs and judgement not available in real time. This paper argues for more transparency and for a simplification of this indicator to reduce the reliance on non-observable variables. Such improvements are essential as most existing proposals to reform the European Union's fiscal rules aim to use an expenditure rule as the operational fiscal rule, a role the expenditure benchmark as is cannot fulfil.

支出基准:复杂且不适合独立财政机构。
支出基准是2011年在本已复杂的欧洲财政规则框架中引入的公共支出演变指标,是支出规则的一种非常具体的应用。然而,这是一个相当复杂的指标,不适合独立财政机构在国家层面使用,因为它依赖于欧盟委员会的数据输入和判断,而不是实时可用的。独立财政机构负责监督国家财政规则的遵守情况。本文主张提高透明度并简化该指标,以减少对不可观察变量的依赖。这种改进是必不可少的,因为目前大多数改革欧盟财政规则的提议都旨在将支出规则作为业务财政规则,而支出基准无法发挥这一作用。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
2.30
自引率
12.50%
发文量
23
期刊介绍: Comparative Economic Studies is a journal of the Association for Comparative Economic Studies (ACES). It aims to publish papers that address several objectives: that provide original political economy analysis from a comparative perspective, that are an accessible source for state-of-the-art comparative economics thinking, that encourage cross-fertilization of ideas, that debate directions for future research in comparative economics, and that can provide materials and insights that are relevant for teaching, public policy debate and the media. Comparative Economic Studies welcome both submissions that are explicitly comparative and case studies of single countries or regions. The journal is interested in papers that investigate how economic systems respond to economic transitions, crises and to structural change, brought about by globalization, demographics, institutions, technology, politics, and the environment. While maintaining its position as an important outlet for work on Central Europe and the Former Soviet Union, the scope of Comparative Economic Studies encompasses other areas as well (European Union, Asia, Latin America, and Africa).
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