Fiscal Policy Indicators in a Rule-Based Framework: An Indian Experience

2006 ◽  
Author(s):  
Ranjit K. Pattnaik ◽  
Deepa S. Raj ◽  
Jai Chander
Keyword(s):  
Fiscal Policy ◽  
Rule Based ◽  
Indian Experience

Rule-Based Fiscal Policy in India: An Assessment

2016 ◽  
Vol 1 (1) ◽  
pp. 20
Author(s):  
Ranjit Kumar Pattnaik ◽  
Anshul Verma
Keyword(s):  
Fiscal Policy ◽  
Rule Based

scholarly journals A Rule-Based Medium-Term Fiscal Policy Framework for Tanzania

2009 ◽  
Vol 09 (244) ◽  
pp. 1 ◽  
Author(s):  
Daehaeng Kim ◽  
Mika Saito ◽  
◽  
Keyword(s):  
Fiscal Policy ◽  
Policy Framework ◽  
Medium Term ◽  
Rule Based

scholarly journals Fiscal Rules for Natural Disaster- and Climate Change-Prone Small States

2021 ◽  
Vol 13 (6) ◽  
pp. 3135
Author(s):  
Ryota Nakatani
Keyword(s):  
Climate Change ◽  
Fiscal Policy ◽  
Natural Disasters ◽  
Natural Disaster ◽  
Fiscal Sustainability ◽  
Fiscal Rules ◽  
Policy Framework ◽  
Small States ◽  
Rule Based ◽  
Fiscal Rule

How should small states formulate a countercyclical fiscal policy to achieve economic stability and fiscal sustainability when they are prone to natural disasters, climate change, commodity price changes, and uncertain donor grants? We study how natural disasters and climate change affect long-term debt dynamics, and we propose cutting-edge fiscal policy rules. We find the primacy of a recurrent expenditure rule based on non-resource and non-grant revenue, interdependently determined by government debt and budget balance targets with expected disaster shocks. This innovative fiscal rule is classified as a natural disaster-resilient fiscal rule, which comprises a plethora of new advantages compared to existing fiscal rules. This new type of fiscal rule can be called as the third-generation fiscal rule. It encompasses natural disasters and climate change, uses budget data only, avoids the need for escape clauses, and operates on a timely basis. Our rule-based fiscal policy framework is practically applicable for many developing countries facing an increasing frequency and impact of devastating natural hazards, and climatic change.

scholarly journals Effectiveness of Fiscal Policy Coordination Rules in the Monetary Union

Equilibrium ◽  
2012 ◽  
Vol 7 (3) ◽  
pp. 73-91
Author(s):  
Bernadeta Baran
Keyword(s):  
Fiscal Policy ◽  
Monetary Union ◽  
Policy Coordination ◽  
Economic And Monetary Union ◽  
Fiscal Policies ◽  
Stability And Growth Pact ◽  
Common Currency ◽  
Member States ◽  
Rule Based ◽  
Growth Pact

Stability and Growth Pact is the main rule-based framework for the coordination of national fiscal policies in the economic and monetary union (EMU). It was established to safeguard sound public finances, an important requirement for EMU to function properly. Member states had a lot of determination before setting up a monetary union (nominal criteria were a condition to adopt common currency). In the next years, coordination of fiscal policy was not so successful. In many countries, revenues were temporarily boosted by tax-rich activity, while they didn’t restrict their expenditures. In most countries fiscal policy was pro-cyclical (not anti-cyclical) and they didn’t achieve their MTO. Financial crisis has sharpened budgetary problems in member states and showed the weakness of coordination rules.

scholarly journals Oil Shocks and the Excise Duty Tax in a DSGE Model Setting

2018 ◽  
Vol 21 (2) ◽  
pp. 49-69
Author(s):  
Črt Lenarčič
Keyword(s):  
Fiscal Policy ◽  
Open Economy ◽  
Small Open Economy ◽  
Oil Prices ◽  
Theoretical Background ◽  
Oil Shocks ◽  
Dsge Model ◽  
Negative Effects ◽  
Rule Based ◽  
Excise Duty

Abstract This paper sets up a small open economy general equilibrium model operating in a monetary union. Exogenous oil shocks that hit the modelled economy are alleviated by introducing a pro-cyclical excise duty tax rule on oil prices. It provides a model-based theoretical background for studying a fiscal response of curbing the negative effects of volatile global oil prices on inflation. Against this backdrop, we estimate the key parameters of the DSGE model and simulate different responses of the fiscal policy tax rule, based on different values of the responsiveness of the excise duty parameter.

Rule-Based Versus Discretionary Fiscal Policy

2016 ◽  
Vol 11 (3) ◽  
pp. 265-276
Author(s):  
Tomasz Grabia
Keyword(s):  
Fiscal Policy ◽  
Macroeconomic Policy ◽  
The Other ◽  
Fiscal Rules ◽  
Negative Consequences ◽  
Rule Based ◽  
Advantages And Disadvantages ◽  
Discretionary Fiscal Policy ◽  
Other Hand ◽  
The One

Fiscal policy can be of a discretionary or rule-based nature. This article discuses selected examples of fiscal rules as well as presents the advantages and disadvantages of following them. The aim of the article is to solve dilemmas about the positive and negative consequences of strict regulations of contemporary fiscal policy. Therefore, a hypothesis is tested concerning whether the following of rules in macroeconomic policy is a more beneficial solution than carrying out a discretionary policy. The hypothesis was not clearly verified. On the one hand, it was stated that it is usually more beneficial to follow standard rules due to higher reliability for markets. On the other hand, that entails lower flexibility, which may be especially disadvantageous during a crisis.

The Coordination of Monetary and Fiscal Policy

2013 ◽  
Author(s):  
Brigitte Granville
Keyword(s):  
Fiscal Policy ◽  
Decisive Role ◽  
Monetary Policies ◽  
Rule Based ◽  
Public Expectations ◽  
Policy Frameworks ◽  
Inflation Targets ◽  
Monetary And Fiscal Policy ◽  
Spending Cuts ◽  
Political Backlash

In considering the components of effective monetary policies to control inflation, the previous chapters have highlighted the decisive role played by credibility and shown how credibility can be established and enhanced through rules-based policy frameworks and independent agencies to implement such regimes. This chapter examines how the same test of credibility, hence supportive public expectations, must also be passed by fiscal policy. For if this fiscal test is failed, even the best designed monetary policy efforts will be unavailing. It also shows how transparent rule-based inflation targets can facilitate resolution of the most intractable fiscal problems. At the time of writing, such problems were most apparent in several of the countries that use the euro. Attempts to address concerns about their solvency by fiscal tightening were having the counterproductive effect of damaging growth, hence further increasing their debt-to-GDP ratios, and all the while raising the likelihood of a social and political backlash against higher taxes and spending cuts.

Using Conventional Articulation Tests With Highly Unintelligible Children

1992 ◽  
Vol 23 (1) ◽  
pp. 52-60 ◽  
Author(s):  
Pamela G. Garn-Nunn ◽  
Vicki Martin
Keyword(s):  
Test Results ◽  
Phonological Processes ◽  
Rule Based ◽  
Severity Level ◽  
Error Sensitivity ◽  
Conventional Tests ◽  
Severity Levels ◽  
Conventional Test ◽  
Impaired Children

This study explored whether or not standard administration and scoring of conventional articulation tests accurately identified children as phonologically disordered and whether or not information from these tests established severity level and programming needs. Results of standard scoring procedures from the Assessment of Phonological Processes-Revised, the Goldman-Fristoe Test of Articulation, the Photo Articulation Test, and the Weiss Comprehensive Articulation Test were compared for 20 phonologically impaired children. All tests identified the children as phonologically delayed/disordered, but the conventional tests failed to clearly and consistently differentiate varying severity levels. Conventional test results also showed limitations in error sensitivity, ease of computation for scoring procedures, and implications for remediation programming. The use of some type of rule-based analysis for phonologically impaired children is highly recommended.

Sign in / Sign up

Export Citation Format

Share Document