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OECD Journal on Budgeting

The OECD Journal on Budgeting is published three times per year. It draws on the best of the recent work of the OECD Committee of Senior Budget Officials (SBO), as well as special contributions from finance ministries, academics and experts in the field and makes it available to a wider community in an accessible format. The journal provides insight on leading-edge institutional arrangements, systems and instruments for the allocation and management of resources in the public sector.

English Also available in: French

Managing fiscal risks: Lessons from case studies of selected OECD countries

Based on five case studies, this paper looks at the definition and classification of fiscal risks; sets out the components of a comprehensive fiscal risks framework; and examines how to operationalise such a framework. It then summarises challenges and key lessons to be considered by countries that wish to implement OECD recommendations in this area to increase the resilience of their public finances in the wake of the COVID-19 outbreak.

English

Keywords: stress, fiscal risks, macroeconomic risks, contingent liabilities, public finance, shocks, COVID-19
JEL: H61: Public Economics / National Budget, Deficit, and Debt / Budget; Budget Systems; H50: Public Economics / National Government Expenditures and Related Policies / National Government Expenditures and Related Policies: General
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