Fiscal Rules – Quo Vadis?

February 19, 2021 at 14:00-15:30 Vienna time (CET)

Introduction
Hervé Joly, JVI Director 

Panelists
Xavier Debrun
, Member of the European Fiscal Board and economic advisor at the National Bank of Belgium

Paulo Medas, Deputy Division Chief of the Fiscal Policy and Surveillance Division at IMF’s Fiscal Affairs Department 

Mateusz Szczurek, Associate Director EBRD; adjunct professor at the Warsaw University; member of the European Fiscal Board; and former Minister of Finance of the Republic of Poland

Moderator
Barbara Dutzler, Senior Economist, Joint Vienna Institute 


The ongoing COVID-19 pandemic puts rules-based fiscal frameworks to the test. By activating the escape clauses, and engaging in unprecedented fiscal support measures geared at protecting lives and livelihoods, governments rose to the immediate challenge. However, the longer the crisis lasts, the more fiscal sustainability concerns in some countries could affect recovery prospects. 

Against this backdrop, the webinar will discuss the impact of the COVID-19 pandemic on sound fiscal institutions. To what extent did the fiscal responses to the pandemic adopted by governments preserve or threaten the credibility of their fiscal frameworks? How should governments balance limited fiscal space and growth-friendly fiscal measures? How can long-term fiscal discipline be ensured? How should the EU fiscal governance framework be reformed? Are fiscal standards rather than fiscal rules the way forward? And what do political economy considerations tell us about the prospects of a meaningful reform? 

Participants are encouraged to ask written questions to the presenters using the webinar’s chat forum.

The webinar will be held in English.

To participate in the webinar please sign up here.

A list of JVI webinars on topical issues in the field of financial stability, fiscal policy, and macroeconomics can be found here.

The schedule of JVI courses – including virtual courses – can be found here.

We look forward to continuing our engagement with you!

Hervé Joly, Director (JVI)

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