Global adoption of complex fiscal rules reshapes economic stability post-crisis.
The article discusses how countries have been creating new fiscal rules to deal with the financial aftermath of the crisis. A dataset was put together to look at these rules in 81 countries from 1985 to 2012. The study found that many new fiscal rules were made or existing ones were made stronger after the crisis. Also, emerging economies now have similar numbers of rules as advanced economies. The new rules are more complex, aiming to balance sustainability and flexibility in times of economic shocks.