IMF working paper assess fiscal councils

The International Monetary Fund

A "strong majority" of fiscal councils exhibit features that allow them improve the public understanding of fiscal policy, according to research published by the International Monetary Fund.

In Fiscal councils: rationale and effectiveness, Roel Beetsma and Xavier Debrun consider the efficacy of independent fiscal institutions in "taming the deficit bias" that emerged in the 1970s.

"We show that the capacity of the fiscal council to improve the public's understanding of the quality of fiscal

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