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Restoring Public Debt Sustainability
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Restoring Public Debt Sustainability: The Role of Independent Fiscal Institutions

George Kopits

Abstract

The volume, the first on this topic, is intended to meet widespread and growing interest in a new generation of independent fiscal institutions, established—in the shadow of the recent financial crisis and the concomitant buildup in public indebtedness—to promote transparency and accountability of government policymaking to citizens and to financial markets. It offers a compilation of studies written from a multidisciplinary (economic, financial, political, legal) perspective, intended for academics, researchers, and practitioners alike. Country experiences have been selected on the basis of t ... More

Keywords: Fiscal policy and institutions, fiscal councils, public debt sustainability, sovereign debt crisis, budgetary monitoring

Bibliographic Information

Print publication date: 2013 Print ISBN-13: 9780199644476
Published to Oxford Scholarship Online: January 2014 DOI:10.1093/acprof:oso/9780199644476.001.0001

Authors

Affiliations are at time of print publication.

George Kopits, editor
Senior Scholar, Woodrow Wilson Center

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Contents

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1 Introduction and Overview

George Kopits *

Part I Analytical and Institutional Issues

Part II Experience of Internally-Driven Institutions

6 United States: Pioneer in Fiscal Surveillance

C. Eugene Steuerle and Stephanie Rennane *

9 Canada: Oversight with Qualified Independence

Kevin Page and Tolga R. Yalkin *

Part III Experience and Outlook for Crisis-Driven Institutions

11 Hungary: A Short-Lived Fiscal Watchdog

George Kopits and Balázs Romhányi *

13 Italy: What Role for an Independent Fiscal Institution?

Fabrizio Balassone, Daniele Franco, and Chiara Goretti *