Fiscal Rules



The theory of fiscal constitutionalism – essentially the idea, promoted by the Nobel Prize-winning economist James M Buchanan, that the state’s powers of taxing and… Read More ›

Fiscal Constitutionalism in Hong Kong

Fiscal Councils (FCs) are offices of budget specialists tasked with producing independent analysis to policymakers on matters relevant to the fiscal situation of a jurisdiction.… Read More ›

Could Fiscal Councils Regulate Governments Through Comply-or-Explain?

It may come as little surprise to longstanding observers of the budget process that the exercise is rife with political rhetoric. Seasoned platitudes include “living… Read More ›

Analyzing Rhetoric in the Budget Process: Context and Impact

Could other countries adopt a Charter of Budget Honesty similar to the one long enshrined in Australia? In a recently published feature article in the… Read More ›

Could Other Countries Learn from Australia’s Charter of Budget Honesty?

The European Union decided in October 2015 to establish a European Fiscal Board (EFB). The EFB is an “independent advisory board on fiscal matters,” with… Read More ›

The European Fiscal Board: Challenges and Opportunities

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