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Roel Beetsma
MN Chair in Pension Economics, University of Amsterdam, CEPR and CESifo
Member, European Fiscal Board
Fiscal council session Discussion of Escriva
9th Annual Meeting of the OECD PBOs & IFIs
Edinburgh, April 6-7, 2017
Overview:
Updated IMF dataset (with help of Xiaoxiao Zhang) on 39 IFI’s –
see Beetsma, Debrun and Sloof (2017)
Remit
Channels of influence
Guarantees of independence
Circumstances around conception
How can national IFI’s and EFB strengthen each other?
Universiteit van Amsterdam
Proliferation councils (BDS, 2017)
Universiteit van Amsterdam
Proliferation rules and councils (BD, 2017):
Universiteit van Amsterdam
Proliferation rules and councils (BD, 2017):
Universiteit van Amsterdam
Proliferation rules and councils (BD, 2017):
Universiteit van Amsterdam
Circumstances around emergence (BDS, 2017)
Universiteit van Amsterdam
Circumstances around emergence (BDS, 2017)
Universiteit van Amsterdam
Remit of IFIs (BDS, 2017)
Universiteit van Amsterdam
Channels of influence (BDS, 2017)
Universiteit van Amsterdam
Guarantees of independence (BDS, 2017)
Universiteit van Amsterdam
Independence and signal-enhancing (BD, 2017):
Universiteit van Amsterdam
Summarizing:
Circumstances under which councils are conceived are very
heterogeneous; no specific relationship with
Government popularity
Colour of government
Parliamentary support
Institutional capital via good and impartial analysis
Influence of IFIs mainly via public reports and media
Few formal instruments, such as “comply or explain”, “formal
consultation or hearing”, let alone stalling the budget process
Resources and safeguards on budget is another issue – see
e.g. Dutch “Rekenkamer” (resources squeezed by govt)
Universiteit van Amsterdam
How can IFI’s and EFB strengthen each other?
Bilateral contacts and workshops / multilateral via existing
networks (EUIFIS, EUNIFI, OECD)
Exchanging best practices, e.g. on methodological issues such
as framework for analysis, reporting, influencing budget process
Facilitating common understanding (technical issues,
interpretation of analyses and conclusions)
Universiteit van Amsterdam
How can IFI’s and EFB strengthen each other?
Exchange of insights on design issues, such as design of
budgetary and monitoring frameworks, further strengthening EU
fiscal framework and strengthening monitoring
Scope for further strengthening IFI’s in European legal
framework?
See results of second EUNIFI survey, e.g. follow up on IFI
endorsement of macro forecasts, access-to-information,
comply or explain (not in 2-pack), adequacy of resources
Universiteit van Amsterdam
THANK YOU!