Download or read book Reassessing the Role and Modalities of Fiscal Policy in Advanced Economies written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2013-06-21 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates how developments during and after the 2008–09 crisis have changed economists’ and policymakers’ views on: (i) fiscal risks and fiscal sustainability; (ii) the effectiveness of fiscal policy as a countercyclical tool; (iii) the appropriate design of fiscal adjustment programs; and (iv) the role of fiscal institutions.