© 2009

Policy Instruments for Sound Fiscal Policies

Fiscal Rules and Institutions

  • Editors
  • Joaquim Ayuso-i-Casals
  • Servaas Deroose
  • Elena Flores
  • Laurent Moulin

Part of the Finance and Capital Markets Series book series (FCMS)

Table of contents

  1. Front Matter
    Pages i-xvi
  2. Introduction: The Role of Fiscal Rules and Institutions in Shaping Budgetary Outcomes

    1. Joaquim Ayuso-i-Casals, Servaas Deroose, Elena Flores, Laurent Moulin
      Pages 1-20
  3. Fiscal Rules and Institutions as Useful Devices to Address the Deficit Bias

    1. Front Matter
      Pages 21-21
    2. Signe Krogstrup, Charles Wyplosz
      Pages 23-50
    3. Teunis Broesens, Peter Wierts
      Pages 89-117
    4. Carlos Martínez-Mongay
      Pages 118-123
  4. Forms of Governance, Rules and Institutions

    1. Front Matter
      Pages 125-125
    2. Mark Hallerberg, Rolf Strauch, Jürgen von Hagen
      Pages 127-148
    3. Charles Wyplosz
      Pages 173-176
  5. Specific Institutional Arrangements to Improve Fiscal Policy

    1. Front Matter
      Pages 177-177
    2. Fabrizio Balassone, Daniele Franco, Stefania Zotteri
      Pages 179-203
    3. Joaquim Ayuso-i-Casals, Diana González Hernandez, Laurent Moulin, Alessandro Turrini
      Pages 204-240
    4. Tatiana Kirsanova, Campbell Leith, Simon Wren-Lewis
      Pages 256-283
    5. Teresa Ter-Minassian
      Pages 284-287
  6. Country-Specific Experiences

About this book


This volume contributes to empirical research on the role of national fiscal rules and institutions in shaping fiscal policies. It provides original, policy-oriented analysis on a number of questions and gives illuminating conclusions about the devices which promote sound and sustainable policy. Contributors are leading experts.


Delegation fiscal policy fiscal rules

About the authors

JOAQUIM AYUSO-I-CASALS is currently working as an economist and policy analyst in the Directorate-General for Economic and Financial Affaires at the European Commission. He deals with fiscal policy issues in the context of the Economic and Monetary Union and, in particular, with the quality and institutional aspects of public finances. He is a former professor at the University Pompeu Fabra of Barcelona.

SERVAAS DEROOSE is Director of the Macroeconomy of the euro area and the Union in the Directorate-General for Economic and Financial Affairs at the European Commission, and a member of the Economic and Financial Committee. He has written numerous articles on different issues, including the Stability and Growth Pact and economic policies in EMU.

ELENA FLORES is Director in charge of Economies of Member States in the Directorate-General for Economic and Financial Affairs at the European Commission. She held other important positions in the past in the Commission, such as Head of Units in charge of euro introduction, financial markets developments and public finances, respectively. She was also advisor in the cabinet of the Commissioner responsible for Economic and Financial Affairs (1999-2002).

LAURENT MOULIN is a staff member of the European Commission on special leave. He is currently working at the IMF as an Economist in charge of monitoring some IMF Member States' economies. In the Directorate-General for Economic and Financial Affaires at the European Commission, he worked on issues related to the analysis of fiscal policies in the EU, the euro area and the Member States and methodological work on the implementation of the Stability and Growth Pact.

Bibliographic information