{"id":7269,"date":"2014-05-21T16:28:44","date_gmt":"2014-05-21T14:28:44","guid":{"rendered":"https:\/\/www.rrz.sk\/the-good-the-bad-and-the-ugly\/"},"modified":"2022-03-04T14:41:35","modified_gmt":"2022-03-04T13:41:35","slug":"the-good-the-bad-and-the-ugly","status":"publish","type":"post","link":"https:\/\/www.rrz.sk\/en\/the-good-the-bad-and-the-ugly\/","title":{"rendered":"The Good, the Bad and the Ugly"},"content":{"rendered":"<div id=\"pl-7269\"  class=\"panel-layout\" ><div id=\"pg-7269-0\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-7269-0-0\"  class=\"panel-grid-cell\" ><div id=\"panel-7269-0-0-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<div>The adoption of the so called \u201cSix\u2010pack\u201d,\u00a0\u201cTwo\u2010pack\u201d and the agreement on the Fiscal Compact made the fiscal framework more\u00a0complex, but the proponents highlighted their main benefits in higher transparency at\u00a0national level, more local ownership and stricter enforcement mechanisms.<\/div>\n<div><\/div>\n<div>This paper\u00b4s\u00a0objective is to critically assess the new framework, its initial implementation and to identify\u00a0potential shortcomings. The well\u2010known Kopits\u2010Symansky criteria represent the basis for the\u00a0review. We also formulate fifteen recommendations, which aim at a simpler, more internally\u00a0consistent system where flexible interpretation is not necessary to eliminate tensions between\u00a0various elements of the framework.<\/div>\n<div><\/div>\n<div><em>Keywords<\/em>: fiscal rules, Kopits\u2010Symansky criteria, structural budget balances<\/div>\n<div><\/div>\n<div><em>JEL classification<\/em>: E61, E62, H60, H62<\/div>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>Under substantial market pressure, policymakers have proposed a diverse set of far\u2010reaching\u00a0changes to the basic European fiscal architecture.<\/p>\n","protected":false},"author":6,"featured_media":12522,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"h5ap_radio_sources":[],"footnotes":""},"categories":[136,135,165],"tags":[70,84],"class_list":["post-7269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-budget","category-fiscal","category-studies","tag-discussion-papers","tag-studies"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Good, the Bad and the Ugly - Rada pre rozpo\u010dtov\u00fa zodpovednos\u0165<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rrz.sk\/en\/the-good-the-bad-and-the-ugly\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Good, the Bad and the Ugly - Rada pre rozpo\u010dtov\u00fa zodpovednos\u0165\" \/>\n<meta property=\"og:description\" content=\"Under substantial market pressure, policymakers have proposed a diverse set of far\u2010reaching\u00a0changes to the basic European fiscal architecture.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rrz.sk\/en\/the-good-the-bad-and-the-ugly\/\" \/>\n<meta property=\"og:site_name\" content=\"Rada pre rozpo\u010dtov\u00fa zodpovednos\u0165\" \/>\n<meta property=\"article:published_time\" content=\"2014-05-21T14:28:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-04T13:41:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rrz.sk\/wp-content\/uploads\/2014\/05\/13_bG93X3BvbHkz.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2048\" \/>\n\t<meta property=\"og:image:height\" content=\"2048\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"\u017dofia\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u017dofia\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rrz.sk\/en\/the-good-the-bad-and-the-ugly\/\",\"url\":\"https:\/\/www.rrz.sk\/en\/the-good-the-bad-and-the-ugly\/\",\"name\":\"The Good, the Bad and the Ugly - Rada pre rozpo\u010dtov\u00fa zodpovednos\u0165\",\"isPartOf\":{\"@id\":\"https:\/\/www.rrz.sk\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rrz.sk\/en\/the-good-the-bad-and-the-ugly\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rrz.sk\/en\/the-good-the-bad-and-the-ugly\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rrz.sk\/wp-content\/uploads\/2014\/05\/13_bG93X3BvbHkz.jpg\",\"datePublished\":\"2014-05-21T14:28:44+00:00\",\"dateModified\":\"2022-03-04T13:41:35+00:00\",\"author\":{\"@id\":\"https:\/\/www.rrz.sk\/#\/schema\/person\/110076e5e6bb2bd49456f9780d112304\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.rrz.sk\/en\/the-good-the-bad-and-the-ugly\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rrz.sk\/en\/the-good-the-bad-and-the-ugly\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rrz.sk\/en\/the-good-the-bad-and-the-ugly\/#primaryimage\",\"url\":\"https:\/\/www.rrz.sk\/wp-content\/uploads\/2014\/05\/13_bG93X3BvbHkz.jpg\",\"contentUrl\":\"https:\/\/www.rrz.sk\/wp-content\/uploads\/2014\/05\/13_bG93X3BvbHkz.jpg\",\"width\":2048,\"height\":2048,\"caption\":\"Abstract low poly grey bright technology vector background. 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