Fiscal Consolidation Across Government Levels ‑ Part 2. Fiscal Rules for Sub‑central Governments, Update of the Institutional Indicator
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Fiscal rules that constrain sub-central government (SCG) budgeting are very common across the OECD, but there are substantial cross-country differences in their implementation and impact. This paper presents the 2011 update of the fiscal rules database established in 2005. As in 2005, budget balance objectives are the most common form of rule...
