Is a Fiscal Policy Council needed in Poland?

mBank – CASE Seminar Proceedings No. 157/2018

68 Pages Posted: 14 Dec 2018

See all articles by Balazs Romhanyi

Balazs Romhanyi

Independent

Lukasz Janikowski

CASE - Center for Social and Economic Research

Date Written: November 30, 2018

Abstract

Unsustainability and procyclicality of fiscal policy are problems that many developed countries face. The public debt crisis revealed that fiscal rules are a useful but insufficient instrument for mitigating them. A large and growing group of economists are calling for the creation of ‘fiscal policy councils’ – independent collegial bodies made up of experts whose role is to act as independent reviewers of government policy and advise the government and parliament on fiscal policy. Such councils currently exist in at least 40 countries. Poland is the only EU country that does not have a fiscal policy council. The aim of this paper is to address the issue of whether a fiscal policy council is needed in Poland and what kind of additional contribution such a council might make to the public debate on fiscal policy.

Keywords: fiscal council, fiscal rules, fiscal policy, sustainability, cyclical stance

JEL Classification: E62, H62, H63

Suggested Citation

Romhanyi, Balazs and Janikowski, Lukasz, Is a Fiscal Policy Council needed in Poland? (November 30, 2018). mBank – CASE Seminar Proceedings No. 157/2018. Available at SSRN: https://ssrn.com/abstract=3300793 or http://dx.doi.org/10.2139/ssrn.3300793

Balazs Romhanyi (Contact Author)

Independent ( email )

No Address Available

Lukasz Janikowski

CASE - Center for Social and Economic Research ( email )

Al. Jana Pawła II 61/212
Warsaw, 01-031
Poland

Register to save articles to
your library

Register

Paper statistics

Downloads
4
Abstract Views
94
PlumX Metrics