Budget rules with a public debt reduction target

Debt Level and Fiscal Rules in Iran According to Budget Structural Reform

Oil-exporting countries often escalate macroeconomic fluctuations by adopting cyclical fiscal policies. Empirical evidence shows that the main reason of instability in oil-exporting countries is the poor management of oil. In this study, after introducing a small open macroeconomic model with a dual managed floating exchange rate regime and estimating it using quarterly macroeconomic data of Ir...

Optimal Budget Deficit Rules

This paper discusses the problem of the optimal determination of budget deficit limits in cases where the fiscal authority wishes to keep the budget deficit close to a reference value. It is assumed that the fiscal authority minimizes the expected discounted value of squared deviations from the reference value. Lump-sum and proportional intervention costs are considered. This paper is also an e...

Mapping the Factors Affecting Public Budget Anomalies

This research has introduced a concept called anomaly of the public budget of the country and its causes. Anomaly of the budget is any objective and non-objective deviances, violation of the major plans of a society, creation of abnormal behaviors that cause a lack of zero balance of operational balance, balance of capital assets and balance of financial assets, and, consequently, instability o...

Sustainability of Public Debt

Designing a rule-based fiscal framework in Iran economy

The existence of a structural budget deficit in Iranian economy and the lack of fiscal discipline have raised concerns about the financial stability of governments among economists. In recent decades, fiscal rules have been considered as a way to establish fiscal discipline and financial sustainability of governments around the world. In this regard, the present study seeks to design a fiscal f...