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Erscheinungsjahr: 
2016
Schriftenreihe/Nr.: 
CESifo Working Paper No. 6044
Verlag: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Zusammenfassung: 
The Swiss debt brake is widely appreciated as one of the most rationally designed fiscal rules in the world and was thus also discussed as blueprint in the debates about fiscal rules in Germany, the European Union member states and Israel. However, evidence that this rule really contributes to sound federal finances does not exist yet. We investigate the effectiveness of the Swiss debt brake by employing the Synthetic Control Method. We find that the introduction of this fiscal rule improved the budget balance by about 3.6 percentage points on average in a post-intervention period covering five years.
Schlagwörter: 
Swiss debt brake
cyclically adjusted budget balance
government debt
synthetic control method
JEL: 
H11
H60
Dokumentart: 
Working Paper
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