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| Author: | Brunila, A. |
| Title: | Spending limits and fiscal discipline in euro area countries |
| Journal: | Bank of Finland Bulletin
2002 : VOL. 76:1, p. 18-22 |
| Index terms: | Expenditure Fiscal policy Euro |
| Language: | eng |
| Abstract: | Without an effective system of sanctions, credibility can be acheieved only via reputation building over a long period of time. Experiences with fiscal policy rules in different countries indicate that rules often turn out to be short-lived and thus ineffective in constraining expenditure growth or preventing deficits and expanding indebtness. |
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