The Swedish Fiscal Policy Council: Experiences and Lessons
2010 (English)Report (Other academic)
The Swedish Fiscal Policy Council, established in 2007, has small resources but a broad remit. In addition to monitoring the long-run sustainability of fiscal policy, the council evaluates the short-run fiscal stance from a cyclical perspective. The council also analyses long-run employment and growth developments. Another task is to evaluate the motives, explanations and research basis for government policies. There is no unique best set-up of a fiscal policy council. Instead, it has to be adapted to the special characteristics of each country. The set-up of the Swedish council appears consistent both with the pre-existing institutional framework, with also other bodies making detailed budget evaluations and macroeconomic forecasts, and with a strong tradition of academic participation in the policy debate. The broad remit could lead to less focus on the fiscal watchdog role. On the other hand, the council plays a "supervicory" role in the general economic policy debate, helping to raise the standards of the doscussion, which is a fundamental democratic objective.
Place, publisher, year, edition, pages
Stockholm: IIES , 2010. , 35 p.
Seminar Paper / Institute for International Economic Studies, Stockholm University. (Online), ISSN 1653-610X ; 764
IdentifiersURN: urn:nbn:se:su:diva-43219OAI: oai:DiVA.org:su-43219DiVA: diva2:354731