Fiscal institutions and public spending volatility in Europe

Fiscal Sustainability, Volatility and Oil Wealth: A Stochastic Analysis of Fiscal Spending Rules

Volatility of public spending in EU Member States

Executive summary This paper discusses volatility in general government spending in EU countries. While this volatility has on average declined over time when measured by its standard deviation, a large cross-country variation in the degree of volatility can be observed. Estimates covering all EU-27 countries indicate that high volatility tends to be associated with fast growing government spen...

Education Spending and Fiscal Reform in Mexico

In September 2007, the Mexican Congress approved a fiscal rule to transfer the federal funds to cover the educational costs of the states. The formula contains a historical basis, meaning that it guarantees every year each state will receive the same amount that it received in the previous year. However, in case the resources approved in the federal budget exceed that of the previous year, then...

Fiscal Policy and Inflation Volatility

4 Non-technical summary 5

Institutions, Volatility and Investment

Countries with strong executive constraints have lower growth volatility but similar average growth to those with weak constraints. This paper argues that this may explain a strong reduced-form correlation between executive constraints and in‡ows of foreign investment. It uses a a novel dataset of Dutch sectorlevel investments between 1983 and 2012 to explore this issue. It formulates an econom...