International conference on issues surrounding fiscal consolidation and medium-term budgetary frameworks

Joint Conference by the IMF Fiscal Affairs Department and the Swedish Ministry of Finance, 7-8 May 2012 in Stockholm.

Bild med konferensens namn

This conference brought together policy-makers, practitioners, and academics from around the world to review current fiscal programs, discuss options, and propose solutions. In particular, the conference focused on designing and implementing medium-term plans that restore fiscal sustainability while promoting broad-based economic growth.

View webcasts from the conference and download presentation slides:

Conference conclusions chaired by Anders Borg, Minister for Finance, Sweden

Carlo Cottarelli, Director of the Fiscal Affairs Deptartment, IMF
Eric M. Leeper, Professor, Indiana University
Andris Vilks, Minister of Finance,Latvia

Introduction - Sustainable fiscal policy

Anders Borg, Minister of Finance, Sweden

Experiences from fiscal consolidation in Latvia

Valdis Dombrovskis, Prime Minister Latvia

The role of structural reforms in fiscal consolidation

Pietro Carlo Padoan, Chief Economist OECD

Macroeconomic effects of fiscal consolidations: evidence of non-Keynesian effects

Göran Hjelm, Head of Research, National Institute of Economic Research, Sweden

Panel discussion day 1 chaired by Professor Eric Leeper, Indiana University

Jurgen Ligi, Minister of Finance, Estonia
Ted Menzies, Minister of State (Finance), Canada
Lucio R. Pench, Director Fiscal policy, Belgium
Roel Beetsma, Professor, Amsterdam School of Economics

Recent fiscal consolidation programs in Italy: rationale, design and performance

Vittorio Grilli, Deputy Minister of Economy and Finance, Italy

Designing fiscal consolidation programs: what works?

Carlo Cottarelli, Director of the Fiscal Affairs Department, IMF

Panel discussion day 1 chaired by Professor Roel Beetsma, University of Amsterdam

Gudmundur Arnason, Permanent Secretary, Ministry of Finance, Iceland
Chris Barrett, Former Chief of Staff, Ambassador to the OECD Treasury, Australia
Vitor Gaspar, Minister of State and Finance, Portugal
Andreas Schieder, State Secretary, Federal Ministry of Finance, Austria
Joachim Wehner, Senior Lecturer in Public Policy Economics, London School of Economics, Great Britain

The role of fiscal rules in medium-term budget planning

Joachim Wehner, Senior Lecturer in Public Policy Economics, London School of Economics

A case for binding medium-term budgetary frameworks: key elements and cross-country performance

Gösta Ljungman, Economist Fiscal Affairs Department, IMF

Fiscal forecasting in Europe

Roel Beetsma, Professor, University of Amsterdam

Panel discussion day 2 chaired by Pietro Carlo Padoan, Chief Economist OECD

Robert Chote, Chairman of the office for budget responsibility, Great Britain
Daniele Franco, Managing director for economic research and international relations, Banca d'Italia
John Hassler, Professor, Institute for International Economics
Christian Kastrop, Deputy Director General, Federal Ministry of Finance, Germany

The Swedish Medium-Term Budgetary Framework

Urban Hansson-Brusewitz, Budget Director, Ministry of Finance, Sweden
Robert Boije, Deputy Director, Ministry of Finance, Sweden

Independent macroeconomic and fiscal forecasting: the role and responsibilities of the CPB in The Netherlands

Coen Teulings, Director, Central Planning Bureau, the Netherlands

Transparency Framework in Australia and New Zealand

Chris Barrett, Australia's Ambassador to the OECD
Anne-Marie Brook, Principal Advisor, New Zealand Treasury

Further reading