Expenditure Ceilings (Ljungman)

“Expenditure Ceilings – A Survey“, by Gösta Ljungman, published as a IMF Working Paper (WPS/08/282), in Dec./2008: “This paper looks at the factors that have to be considered when designing an aggregate expenditure ceiling. It ist argued that expenditure ceilings are effective in promoting fiscal discipline and sustainability, but that a number of trade-offs have to be made when setting up a fiscal framework that will survive in a politically charged environment….”.

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