Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. Fiscal Affairs Department, issuing body.
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| ISBN: | 1283562111
9781283562119
9781463956035
1463956037
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| Notes: | At head of title: Fiscal Affairs Department.
Title from PDF title page (IMF Web site, viewed November 23, 2011).
"November 2011."
Includes bibliographical references.
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| Summary: | The enhanced Stability and Growth Pact calls on euro area members and aspirants to set boundaries to fiscal deficits through high-level legislation. A limit on the deficit, such as the deficit ceiling in Bulgaria's organic budget law, serves to protect solvency. The recent crisis clearly indicated that the key challenges are not only to contain the deficit but also to avoid a procyclical stance during upswings and to build a buffer for rainy days. Ideally, fiscal policymaking is guided by a fiscal rule that adapts through the economic cycle. This paper lays out the objectives of fiscal rules and analyzes how these objectives can be met in Bulgaria through either a growth-adjusted balance rule or an expenditure rule complemented by a deficit ceiling.
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| Other form: | Print version: Andritzky, Jochen R. Evaluating Designs for a Fiscal Rule in Bulgaria. Washington : International Monetary Fund, ©2011 9781463925277
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