New Rule: The Swiss Debt Brake Stephan Danninger

ISBN: 9781281604484

Published: May 9th 2014

ebook

28 pages


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New Rule: The Swiss Debt Brake  by  Stephan Danninger

New Rule: The Swiss Debt Brake by Stephan Danninger
May 9th 2014 | ebook | PDF, EPUB, FB2, DjVu, talking book, mp3, RTF | 28 pages | ISBN: 9781281604484 | 6.43 Mb

The paper provides an international comparison and a comprehensive analysis of a new fiscal expenditure rule for the federal government in Switzerland. The proposed rule has two innovative features: it aims at a structurally balanced budget in theMoreThe paper provides an international comparison and a comprehensive analysis of a new fiscal expenditure rule for the federal government in Switzerland.

The proposed rule has two innovative features: it aims at a structurally balanced budget in the short-run by annually setting a cyclically adjusted expenditure ceiling, and it arrests the accumulation of public debt via corrections of future expenditure targets for past deviations from projected fiscal balances. The paper finds that the new rule is likely to reduce procyclical tendencies in fiscal policy and that its objectives are adequate in meeting long-run fiscal challenges arising from demographic changes.



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