Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/185993 
Authors: 
Year of Publication: 
2012
Citation: 
[Journal:] Swiss Journal of Economics and Statistics [ISSN:] 2235-6282 [Volume:] 148 [Issue:] 1 [Publisher:] Springer [Place:] Heidelberg [Year:] 2012 [Pages:] 37-55
Publisher: 
Springer, Heidelberg
Abstract: 
The Swiss fiscal rule or "debt brake" is applied to simulated data of economic output and fiscal revenues. The budget remains almost perfectly balanced and the debt ratio stable over the medium and long term: The cyclical adjustment of the debt brake is effective in terms of its primary objective of achieving a balanced budget over the medium term. The rule also performs well with respect to the objective of taking into account the position of the economy in the cycle. In the case of a non-stationary GDP series, however, this result can not be guaranteed anymore.
Subjects: 
Balanced Budget
Debt
Deficit
Budgeting
Business Cycle
JEL: 
H61
E62
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Article

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