Fiscal adjustments consisting of spending cuts or tax increases are generally presented as the unavoidable way for achieving public finance sustainability in the long term. However, this view of fiscal consolidation processes is limited as it leaves out other aspects related to public sector...

Carlos Mulas-Granados, Jorge Onrubia and Javier Salinas-Jiménez investigate the role played by fiscal institutions in the new EU member states that joined in 2004 and in 2007 in the period from 1993 to 2004. They find that budgetary institutions – whose main features are summed up with...

Fiscal adjustments consisting of spending cuts or tax increases are generally presented as the unavoidable way for achieving public finance sustainability in the long term. However, this view of fiscal consolidation processes is limited as it leaves out other aspects related to public sector...