Strengthening Chile's Rule-Based Fiscal Framework:
The cornerstone of Chile's impressive fiscal performance has been its structural balance rule. By insulating public spending from short-term copper price fluctuations and the business cycle, the rule has helped preserve fiscal discipline. However, the implementation of the rule in recent years...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2011
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Schriftenreihe: | IMF Working Papers
Working Paper No. 11/17 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | The cornerstone of Chile's impressive fiscal performance has been its structural balance rule. By insulating public spending from short-term copper price fluctuations and the business cycle, the rule has helped preserve fiscal discipline. However, the implementation of the rule in recent years has revealed certain challenges, and in May 2010, the government established a high-level commission to recommend reforms that could make the rule even more effective. This paper assesses the scope for improving the design and implementation of the structural balance rule in light of best practices and OECD country experience with fiscal rules. This assessment suggests several options to strengthen Chile's fiscal rule, including by simplifying the calculation of the structural balance; enhancing the rule's flexibility, transparency and accountability; and complementing it with a medium-term fiscal framework |
Beschreibung: | 1 Online-Ressource (26 p) |
ISBN: | 1455211982 9781455211982 |
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spelling | Dabán Sánchez, Teresa Verfasser aut Strengthening Chile's Rule-Based Fiscal Framework Dabán Sánchez, Teresa Washington, D.C International Monetary Fund 2011 1 Online-Ressource (26 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 11/17 The cornerstone of Chile's impressive fiscal performance has been its structural balance rule. By insulating public spending from short-term copper price fluctuations and the business cycle, the rule has helped preserve fiscal discipline. However, the implementation of the rule in recent years has revealed certain challenges, and in May 2010, the government established a high-level commission to recommend reforms that could make the rule even more effective. This paper assesses the scope for improving the design and implementation of the structural balance rule in light of best practices and OECD country experience with fiscal rules. This assessment suggests several options to strengthen Chile's fiscal rule, including by simplifying the calculation of the structural balance; enhancing the rule's flexibility, transparency and accountability; and complementing it with a medium-term fiscal framework Online-Ausg http://elibrary.imf.org/view/IMF001/11613-9781455211982/11613-9781455211982/11613-9781455211982.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Dabán Sánchez, Teresa Strengthening Chile's Rule-Based Fiscal Framework |
title | Strengthening Chile's Rule-Based Fiscal Framework |
title_auth | Strengthening Chile's Rule-Based Fiscal Framework |
title_exact_search | Strengthening Chile's Rule-Based Fiscal Framework |
title_exact_search_txtP | Strengthening Chile's Rule-Based Fiscal Framework |
title_full | Strengthening Chile's Rule-Based Fiscal Framework Dabán Sánchez, Teresa |
title_fullStr | Strengthening Chile's Rule-Based Fiscal Framework Dabán Sánchez, Teresa |
title_full_unstemmed | Strengthening Chile's Rule-Based Fiscal Framework Dabán Sánchez, Teresa |
title_short | Strengthening Chile's Rule-Based Fiscal Framework |
title_sort | strengthening chile s rule based fiscal framework |
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