Emergency Funds and Escape Clauses

What Have we Learned from the European Experience with Emergency Funds and Escape Clauses

• Beljean, T., and A. Geier. (2013). The Swiss debt brake- has it been a success? Swiss Journal of Economics and Statistics, Vol. 149 (2) 115-135.
• Bodmer, F. (2006). The Swiss debt brake: how it works and what can go wrong. SchweizerischeZeit schrift Fur Volkswirtschaft und Statistik, 142 (3) 307-330.
• Fall, F. and J-M. Fournier (2015), Macroeconomic Uncertainties, Prudent Debt Targets and Fiscal Rules, OECD Economics Department Working Papers, No. 1230, OECD Publishing, Paris.
• Geier, A. (2011). The debt brake-the Swiss fiscal rules at the federal level. Federal Department of Finance. Federal Financial Administration, Switzerland. (February).
• Geier, A. (2012). Application of the Swiss fiscal rule to artificial data a Monte Carlo simulation. Swiss Journal of Economics and Statistics. 148 (1): 37-55.
• Kraan D., and M. Ruffner. (2005). Budgeting in Switzerland. OECD Journal on Budgeting. 5 no.1.
• Merrifield, J., and B. Poulson. 2017. Restoring America’s Fiscal Constitution, Lexington Books, New York.

How Emergency Spending Has Undermined Fiscal Rules in the U.S.

• Blinder, A. 2015. A GOP Budget that is truly an Ideological Document, Wall Street Journal, June 19 A13.
• Blondal, J. D. Kraaan, and M. Ruffner. 2003. Budgeting in the United States, OECD Journal on Budgeting vol. 3 no.2,
• Merrifield, J., and B. Poulson. 2017. Restoring America’s Fiscal Constitution, Lexington Books, New York.
• Peterson, K. and G. Lubold. 2015. Democrats Stall Defense Bill in the Senate, Wall Street Journal, June 19. A4.
• Posner, P. 2011. Will it Take a Crisis? The Pew Charitable Trusts. March
• Posner, P. S. Redburn, P. Joyce, and R. Meyers. 2012. Strengthening the Federal Budget Process. National Academy of Public Administration. Memos to National Leaders. July11.
• Posner, P. L. and M. Sommerfeld (2013), “The Politics of Fiscal Austerity: Democracies and Hard Choices”, OECD Journal on Budgeting, Vol. 13/1,
  https://dx.doi.org/10.1787/budget-13-5k3w6lk42l33.
• Schick, A. 2007. The Federal Budget: Politics Policy Process, 3rd edition. Washington Brookings Institution Press.
• Schick, A. 2010. Post Crisis Fiscal Rules: Stabilizing Public Finance While Responding to Economic Shocks. OECD Journal on Budgeting 10/2.
• United States Congress. 2015. FY 2016 Budget Resolution. House Budget Committee and Senate Budget Committee. Washington DC.

Emergency Funds and Escape Clauses in the MP Fiscal Rule

• Merrifield, J., and B. Poulson. 2017. Restoring America’s Fiscal Constitution, Lexington Books, New York.
• Schick, A. 2007. The Federal Budget: Politics Policy Process, 3rd edition. Washington Brookings Institution Press.
• Schick, A. 2010. Post Crisis Fiscal Rules: Stabilizing Public Finance While Responding to Economic Shocks. OECD Journal on Budgeting 10/2.

 

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