Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/260176 
Year of Publication: 
2016
Series/Report no.: 
Working Paper No. 2016:3
Publisher: 
Lund University, School of Economics and Management, Department of Economics, Lund
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.
Subjects: 
Ireland
fiscal policy council
independent fiscal agency
fiscal stabilization
fiscal rules and fiscal crisis
JEL: 
E62
E63
E65
F42
F45
Document Type: 
Working Paper

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