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How is the Irish Fiscal Advisory Council Performing? An Independent Evaluation of the First Years of IFAC

Jonung, Lars LU ; Begg, Iain and G. Tutty, Michael (2016) In Working Paper / Department of Economics, School of Economics and Management, Lund University
Abstract
This paper presents an independent evaluation of the Irish Fiscal Advisory Council (IFAC) carried out in 2015. IFAC was set up as an independent fiscal institution in 2011 to monitor the fiscal policy of the Irish government. Similar fiscal “watchdogs” have emerged across Europe following the crisis in the euro area. This report presents conclusions and recommendations concerning the performance of IFAC. The focus is on five main issues: the mandate, the financial and human resources, the output, the impact (communication strategy) of IFAC and the relationship between the EU fiscal framework and the Irish framework. A general conclusion is that IFAC has, so far, served the Irish fiscal policy process well. With Ireland having exited its... (More)
This paper presents an independent evaluation of the Irish Fiscal Advisory Council (IFAC) carried out in 2015. IFAC was set up as an independent fiscal institution in 2011 to monitor the fiscal policy of the Irish government. Similar fiscal “watchdogs” have emerged across Europe following the crisis in the euro area. This report presents conclusions and recommendations concerning the performance of IFAC. The focus is on five main issues: the mandate, the financial and human resources, the output, the impact (communication strategy) of IFAC and the relationship between the EU fiscal framework and the Irish framework. A general conclusion is that IFAC has, so far, served the Irish fiscal policy process well. With Ireland having exited its macroeconomic adjustment programme and a return to economic health, IFAC now faces new challenges in keeping Ireland on a sustainable fiscal path. (Less)
Please use this url to cite or link to this publication:
author
organization
publishing date
type
Working Paper
publication status
published
subject
keywords
Ireland, fiscal policy council, independent fiscal agency, fiscal stabilization, fiscal rules, fiscal crisis
in
Working Paper / Department of Economics, School of Economics and Management, Lund University
issue
3
pages
58 pages
publisher
Department of Economics, Lund Universtiy
language
English
LU publication?
yes
id
0f486bac-df9a-4d7b-becb-f61e56cefa8e (old id 8841324)
alternative location
http://swopec.hhs.se/lunewp/abs/lunewp2016_003.htm
date added to LUP
2016-03-11 09:44:20
date last changed
2016-04-16 07:20:12
@misc{0f486bac-df9a-4d7b-becb-f61e56cefa8e,
  abstract     = {This paper presents an independent evaluation of the Irish Fiscal Advisory Council (IFAC) carried out in 2015. IFAC was set up as an independent fiscal institution in 2011 to monitor the fiscal policy of the Irish government. Similar fiscal “watchdogs” have emerged across Europe following the crisis in the euro area. This report presents conclusions and recommendations concerning the performance of IFAC. The focus is on five main issues: the mandate, the financial and human resources, the output, the impact (communication strategy) of IFAC and the relationship between the EU fiscal framework and the Irish framework. A general conclusion is that IFAC has, so far, served the Irish fiscal policy process well. With Ireland having exited its macroeconomic adjustment programme and a return to economic health, IFAC now faces new challenges in keeping Ireland on a sustainable fiscal path.},
  author       = {Jonung, Lars and Begg, Iain and G. Tutty, Michael},
  keyword      = {Ireland,fiscal policy council,independent fiscal agency,fiscal stabilization,fiscal rules,fiscal crisis},
  language     = {eng},
  note         = {Working Paper},
  number       = {3},
  pages        = {58},
  publisher    = {Department of Economics, Lund Universtiy},
  series       = {Working Paper / Department of Economics, School of Economics and Management, Lund University},
  title        = {How is the Irish Fiscal Advisory Council Performing? An Independent Evaluation of the First Years of IFAC},
  year         = {2016},
}