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Rules-Based Fiscal Policy In France, Germany, Italy And Spain

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Originally published November 14, 2003
Authors Enrica Detragiache
Steven A. Symansky
Gian Maria Milesi-Ferretti
Gabriel Di Bella
Ms. Teresa Dabán Sánchez
Editors Gabriel Di Bella
Enrica Detragiache
Date of Reg.
Date of Upd.
ID2180293
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About Rules-Based Fiscal Policy In France, Germany, Italy And Spain


Fiscal rules can help to counteract the deficits and spending biases that too often originate in the political process. Rules that constrain spending--rather than the balance--allow fiscal policy to be countercyclical. Yet the design of effective spending rules is by no means straightforward. . . .

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