{"title":"Accounting Regimes and Fiscal Rules","authors":"P. Boothe","doi":"10.2139/ssrn.2040784","DOIUrl":"https://doi.org/10.2139/ssrn.2040784","url":null,"abstract":"Boothe contributes to the literature that focuses on the impact of budgetary institutions on fiscal outcomes by examining the interaction between accounting regimes and fiscal rules. The paper builds and calibrates a model through which cash and accrual accounting regimes are compared and their interaction with different fiscal rules is analysed. The paper does not take position on the suitability of cash versus accrual regimes. It rather looks for the circumstances under which governments may choose to move from an accounting system to the other. The author stresses that rules which discourage deficit financing are harder to comply with under cash accounting than under accrual accounting.","PeriodicalId":225425,"journal":{"name":"ERN: Budget; Budget Systems (Topic)","volume":"15 5","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2004-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131452833","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Designing Model-Based Fiscal Policy Rules","authors":"Javier J. Pérez, P. Hiebert","doi":"10.2139/ssrn.2094466","DOIUrl":"https://doi.org/10.2139/ssrn.2094466","url":null,"abstract":"Perez and Hiebert discuss the role of fiscal policy rules in macroeconomic models. They note that rules are designed to guarantee that the intertemporal budget constraint of the government is satisfied. Rules avoid explosive paths for the debt ratio and influence the adjustment of policy variables against shocks and policy changes. Perez and Hiebert note that rules are generally imposed exogenously and that there is little consensus on their most appropriate formulation. Exogenous rules involve backward-looking behaviour on the part of government, may not take into account the specific features of the shocks, and may not be fully consistent with other sectors of the model. The authors offer an alternative specification in the form of an endogenous fiscal rule which requires the presence of forward-looking agents. The rule is forward-looking and consistent with the set-up of the model. It allows shock-specific fiscal policy responses. Only counter-cyclical automatic adjustments are envisaged.","PeriodicalId":225425,"journal":{"name":"ERN: Budget; Budget Systems (Topic)","volume":"310 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2001-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133176977","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Coalition Governments and Fiscal Policy in the Netherlands","authors":"T. Reininga","doi":"10.2139/ssrn.2095165","DOIUrl":"https://doi.org/10.2139/ssrn.2095165","url":null,"abstract":"Reininga analyses the features of the fiscal policy regime adopted in the Netherlands since the mid-90s and places them in the historical perspective of Dutch fiscal policy after 1945. He points out that at an earlier stage it was the urgency of consolidating public finances that reduced disagreement among political parties in the Netherlands over priorities in public finance. This enabled Governments in the 80s to embark on tighter fiscal policies than their predecessors, aiming at a considerable reduction in the budget deficit. Concerning more recent developments, Reininga suggests that the increased significance of coalition agreements as a commitment device for participating political parties may have facilitated the formation of coalition governments with programmes targeted at deficit reduction. Consequently, when public finances appeared to be under control again, the Dutch government was able to introduce a trend-based budgetary policy, featuring medium-term ceilings for government expenditures, a transparent and orderly budgetary process, automatic stabilisation with regard to the business cycle and - to some extent - tax smoothing on the revenue side.","PeriodicalId":225425,"journal":{"name":"ERN: Budget; Budget Systems (Topic)","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2001-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134218527","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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