This article provides an alternative to the standard simplistic form of a balanced budget amendment to the U.S. Constitution. Instead of simply prohibiting government outlays from exceeding government revenues, which could lead to higher government spending and to higher taxation levels, this...

After a decade with large budget deficits, Switzerland introduced a debt brake in 2002. It is an expenditure rule with sets a limit on expenditure both during boom and during recession periods and applies to the federal budget and account. Judging from simulations using historical data, the...