 | Designing Sound Fiscal Relations Across Government Levels in Decentralized Countries Author/Editor: Robin Boadway, Luc Eyraud. Release Date:December, 2018 This paper discusses how decentralized countries can achieve sound fiscal relations between the central government and lower government levels. The concepts of “vertical gap” and “vertical more...
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 | How to Select Fiscal Rules : A Primer Author/Editor: Victor Duarte Lledo, Paolo Dudine, Luc Eyraud, Adrian Peralta-Alva. Release Date:March, 2018 This note provides guidance on how to select fiscal rules in a wide range of economies, including advanced, emerging market, and developing economies. The principles and methods discussed are more...
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| Fiscal Politics in the Euro Area Author/Editor: Luc Eyraud, Vitor Gaspar, Tigran Poghosyan. Release Date:January, 2017 This paper provides evidence of fiscal procyclicality, excessive deficits, distorted budget composition and poor compliance with fiscal rules in the euro area. Our analysis relies on real-time data more...
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| Reforming Fiscal Governance in the European Union Author/Editor: Michal Andrle, John C Bluedorn, Luc Eyraud, Tidiane Kinda, Petya Koeva Brooks, Gerd Schwartz, Anke Weber. Release Date:May, 2015 Successive reforms have brought many positive elements to the European Union’s fiscal framework. But they have also increased its complexity. The current system involves an intricate set of fiscal more...
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.jpg) | Fiscal Multipliers : Size, Determinants, and Use in Macroeconomic Projections Author/Editor: Nicoletta Batini, Luc Eyraud, Lorenzo Forni, Anke Weber. Release Date:October, 2014 Fiscal multipliers are important tools for macroeconomic projections and policy design. In many countries, little is known about the size of multipliers, as data availability limits the scope for more...
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| A Simple Method to Compute Fiscal Multipliers Author/Editor: Nicoletta Batini, Luc Eyraud, Anke Weber. Release Date:June, 2014 Fiscal multipliers are important tools for macroeconomic projections and policy design. In many countries, little is known about the size of multipliers, as data availability limits the scope for more...
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 | Too Small to Fail? Subnational Spending Pressures in Europe Author/Editor: Luc Eyraud, Marialuz Moreno Badia. Release Date:February, 2013 The purpose of this paper is to assess whether expenditure decentralization has contributed to weakening fiscal performance in Europe. Using a panel of EU15 countries for the period 1995-2011, we more...
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| Automatic Fuel Pricing Mechanisms with Price Smoothing : Design, Implementation, and Fiscal Implications Author/Editor: David Coady, Javier Arze del Granado, Luc Eyraud, Anita Tuladhar. Release Date:January, 2013 Many developing and emerging countries do not fully pass-through increases in international fuel prices to domestic retail prices, with adverse consequences for fuel tax revenues and tax volatility. more...
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