Home >> FinanzArchiv: Public Finance Analysis, Volume 59, Number 1

Considering the IMF's Perspective on a ''Sound Fiscal Policy''

Author: Heller, Peter S.

Source: FinanzArchiv: Public Finance Analysis, Volume 59, Number 1, March 2003 , pp. 141-161(21)

Publisher: Mohr Siebeck

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Abstract:

This paper provides a perspective on how the IMF assesses a ''sound fiscal policy,'' focusing principally on industrial and emerging market economies. It observes six central criteria: the short-term fiscal policy stance, with greater emphasis on automatic stabilizers than discretionary fiscal policy; relevance of medium and sometimes long-term issues; fiscal sustainability; capacity for aggregate fiscal policy implementation (including political economy factors); structural content of fiscal policy (tax efficiency and public expenditure quality); and institutional, governance, and process issues associated with budget implementation and revenue collection. Greater emphasis could be placed on an adequate margin to deal with uncertain long-term challenges.

Document Type: Research article

DOI: http://dx.doi.org/10.1628/0015221032906108

Publication date: 2003-03-01

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  • FinanzArchiv founded in 1884 is one of the world's oldest professional journals in public finance.

    FinanzArchiv publishes original work from all fields of public economics which are of interest to an international readership, e.g. taxation, public debt, public goods, public choice, federalism, market failure, social policy, and the welfare state. Special emphasis is on high-quality theoretical and empirical papers on current policy issues.

    FinanzArchiv is a well-established, internationally oriented journal in the field of public economics, widely read in Europe and all over the world.

    FinanzArchiv is listed in the Social Science Citation Index (SSCI, JCR impact factor 2007 0,296), in Current Contents/Social and Behavioral Sciences, in IDEAS and RePEc (IDEAS/RePEc simple impact factor 2008 1.177), in the Journal of Economic Literature (CD and online), and in the International Bibliography of the Social Sciences.

    FinanzArchiv is a fully peer-reviewed journal committed to a prompt turnaround of submissions. No more than four months should pass between online submission of a manuscript and the editor's decision on acceptance, revision, or rejection.
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