Rady polityki fiskalnej jako narzędzie poprawy jakości polityki fiskalnej / Fiscal Policy Councils as a Tool of Improving the Quality of the Fiscal Policy
Journal Title: Studia Prawno-Ekonomiczne - Year 2018, Vol 107, Issue
Abstract
Practice shows that politicians have a strong bias towards excessive deficits, and actual fiscal policy is often distant from the optimum described in the economics textbooks. Sub-optimal fiscal policy was one of the main factors that contributed to the depth of the economic downturn in some euro area countries during the global financial crisis. Theoretically, fiscal rules were supposed to prevent such problems, but in practice they failed. Their low efficiency prompts more and more economists to support the idea of fiscal policy councils – collegial bodies whose task is to improve the quality of budgetary policy. According to the International Monetary Fund data, 39 such councils now operate in the world. The purpose of this article is to present the concepts of fiscal policy councils discussed in the literature of the subject, analyze the characteristics of the councils currently operating, and to describe the experiences from their activity so far. The study uses the latest data from the International Monetary Fund Fiscal Council Dataset. The author analyses also what would be the best way of introducing a fiscal council in Poland.
Authors and Affiliations
Łukasz Janikowski
Keywords
Related Articles
- EP ID EP386857
- DOI 10.26485/SPE/2018/107/14
- Views 78
- Downloads 0
Audyt wewnętrzny a ład akademicki – diagnoza uwarunkowań i zależności
W artykule przedstawiono rozważania dotyczące ładu organizacyjnego w szkolnictwie wyższym. Zaprezentowano podstawy i założenia funkcjonowania audytu wewnętrznego w polskich jednostkach sektora finansów publicznych. Omówi...
Lawfulness of the EU Economic Governance According to National and Supranational Case Law
This contribution focuses on the legal narrative of the EU/EMU crisis management providing an outlook on the new EU economic governance framework from the perspective of national and supranational (Court of Justice of th...
Metody podnoszenia świadomości finansowej wśród osób zagrożonych wykluczeniem społecznym
The very low level of financial capabilities, especially in the context of the recent financial crisis has became a hot international debate. It has results in the number of recommendation issued by OECD, World Bank as w...
Prawa obcych ludów w instytucjach Gaiusa
Celem artykułu jest przedstawienie fragmentów Instytucji Gaiusa odnoszących się do stosowanych przez inne niż Rzymianie ludy instytucji prawnych i wskazanie, jaki był zamiar przywołania ich w podręczniku do nauki prawa r...
Corporate Governance Theories in the New Institutional Economics Perspective. The Classification of Theoretical Concepts / Teorie nadzoru korporacyjnego w świetle założeń nowej ekonomii instytucjonalnej. Próba usystematyzowania koncepcji
The inter-disciplinarity and multi-paradigmatism of corporate governance issues results in a lack of clear categorization of the theories. This paper attempts to systematize theories of corporate governance with special...