TY  - BOOK
AU  - Kumar,Manmohan S.
AU  - Ter-Minassian,Teresa
ED  - International Monetary Fund.
TI  - Promoting fiscal discipline
SN  - 9781589066090
AV  - HJ192.5 .P76 2007
U1  - 336.3 
PY  - 2007///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Fiscal policy
KW  - Finance, Public
KW  - Economic policy
N1  - Includes bibliographical references
N2  - In this book the authors first explore the role of discretion in fiscal policy, and the extent, consequences, and causes of procyclicality, particularly in good times. They then examine how a variety of institutional approaches - fiscal rules, fiscal responsibility laws, and fiscal agencies - can help improve fiscal discipline. While each of these approaches can play a useful role, the authors suggest that a strategy combining them is likely to be particularly beneficial. Although such a strategy requires political commitment and effective fiscal management, at the same time, the strategy itself can bolster political commitment by highlighting the restraints on government and raising the costs of failing to respect them
ER  -