A new era of fiscal rules -- Economic analysis of fiscal rules -- Case studies : fiscal rules in Switzerland and Sweden -- Fiscal rules in the U.S -- Should the U.S. go Swiss? -- Designing a new fiscal rule for the U.S. -- Toward a new budget process -- The political economy of new fiscal rules

This book proposes new fiscal rules to address the debt crisis, including a balanced budget amendment and a deficit-debt brake. It estimates the impact of the proposed rules on the economy over the next two decades

Can the Debt Growth be Stopped? explores new fiscal rules introduced in OECD countries to determine if new fiscal rules should be enacted in the United States. The centerpiece of the study is analysis of fiscal rules using a dynamic simulation model.

New fiscal rules, referred to as tax and expenditure limits (TELs), were enacted in many states during the tax revolt launched in the 1970s. Over the past two decades a second generation of TELs, patterned after Colorado’s TABOR Amendment, was introduced in the states. The new fiscal rules...

In recent years debt in Colorado has increased at an unsustainable rate. A debt brake is simulated for the Colorado economy. When the debt brake is triggered the spending cap imposed by the Tabor Amendment is reduced, with surplus revenue earmarked for debt reduction. The simulation analysis...