Fiscal Discipline and Educational Quality

We have put into practice fiscal discipline, warded off inflation and adopted measures to stimulate economic growth.

Nevertheless, the Committee trusts that prudence and fiscal discipline will be exercised in administering all items of the budget.

Of course, the discipline of the market is not perfect the bond market does not see implicit future liabilities (like promised pension payments) to any great degree. Nevertheless, this enforced fiscal discipline, combined with individual states own internal budgetary procedures, has prevented a large scale state level fiscal crisis from occurring in the US since the Great Depression.

The need for the Palestinian Authority to adhere to the reform agenda and to re establish fiscal discipline was a central theme of the meeting.

First, the system lacked effective arrangements to align fiscal and other economic policies. As long as enforcement of fiscal discipline is entrusted to an intergovernmental body, the problem is bound to reappear, limiting the credibility of common budgetary rules.

What is required is easy fiscal policy today, together with plans to achieve fiscal rectitude in the long run. The difficulty with this Augustinian approach Lord, make me chaste, but not yet is that promises of future discipline usually are not credible.

But that is not true of the US or the UK, which both have large fiscal deficits. And most countries were adhering to reasonably tight fiscal discipline before the crisis of 2008 undermined their banks, cut their tax revenues, and forced up their sovereign debt.

Making matters worse for Europe s economy was the decision taken decades back to introduce a common currency without a common fiscal policy. Discipline disappeared at the national level in many countries

What about market discipline? Is the German government s willingness to issue more debt and run bigger deficits limited because the market recognizes and penalizes nation states that allow their fiscal positions to weaken?

Robert Rubin and Kent Conrad warned him that the press would not interpret his testimony as being balanced, and that Congress would interpret it as an excuse to abandon fiscal discipline. They were right.

There is no denying that advanced democracies largely failed to preempt the financial and sovereign debt crises, while most emerging economies pursued better economic policies. How can modern Western democracies impose strict fiscal discipline?

Rather than fiscal stimulation and control, the main tool of economic management nowadays is monetary policies conducted by independent central banks. Keynesian demand management was thus displaced by a new understanding which we owe largely to Friedman that pursuing fiscal discipline and price stability is the best guarantee of macroeconomic sustainability.

Sudden fiscal contraction would reduce domestic aggregate demand faster than the economy s deleveraging and structural shifts could replace it, thereby killing off growth and hiring, with adverse feedback effects on budget deficits. But delaying the debt reckoning for too long would undermine confidence in the US government s capacity for fiscal discipline.

Not only is QE s ability to jumpstart crisis torn, balance sheet constrained economies limited it also runs the important risk of blurring the distinction between monetary and fiscal policy. Central banks that buy sovereign debt issued by fiscal authorities offset market imposed discipline on borrowing costs, effectively subsidizing public sector profligacy.

In India, for example, increasing productivity and long term growth require fiscal discipline and a raft of financial and labor market reforms. But the central bank is being asked to do all the heavy lifting.

While the Advisory Committee had received a copy of the budget adopted by the Court's Management Committee, that had been for information purposes, only, and it trusted that prudence and fiscal discipline would be exercised.

Conduct and discipline unit

Conduct and Discipline Unita

Conduct and Discipline Unit

The long term consequences of the resulting surge in fiscal deficits are serious. If the deficits are monetized by central banks, inflation will follow the short term deflationary pressures if they are financed by debt, the long term solvency of some governments may be at stake unless medium term fiscal discipline is restored.

Infrastructure, infrastructure, infrastructure and discipline.

Translation is a scholarly discipline.

Personnel conduct and discipline issues

Discipline and personnel conduct issues

But the eurozone is not only replicating other unions mistakes it is repeating its own. While 25 of the EU s 27 governments agreed to the fiscal compact, aimed at imposing fiscal discipline on member states, there is no guarantee that governments will not violate the rules, just as they violated those established by the Maastricht Treaty.

Sixth, QE can create moral hazard problems by weakening governments incentive to pursue needed economic reforms. It may also delay needed fiscal austerity if large deficits are monetized, and, by keeping rates too low, prevent the market from imposing discipline.

An early warning was given by the Mexican peso crisis of 1994. However, their full force was revealed by the financial crises in East Asia (UNCTAD, 2000), a region with a long standing record of strong growth and fiscal discipline.

A Europe of Solidarity, Not Only Discipline

We should implement organizational discipline in a practical manner and must not tolerate privilege or exception. Party organizations at all levels should dare to maintain discipline in order to make discipline become an actually live high voltage line.

Fiscal Challenges and Fiscal Follies

The same applies to extensive government borrowing from abroad, to currency boards, even to currency unions. The creation of the euro is nothing but an extreme form of commitment European governments tried to lash themselves to the German mast of fiscal discipline.

First, there is the long standing litany of policy responses needed to deal with the global trade imbalances. These include greater fiscal discipline in the US, greater reliance on domestic demand in both Europe and Asia, and more flexible exchange rates in Asia.

It is for discipline that you endure. God deals with you as with children, for what son is there whom his father doesn't discipline?

It is for discipline that you endure. God deals with you as with children, for what son is there whom his father doesn't discipline?

They want to have the discipline and accountability.

Self discipline the most important factor for success.

We're looking for competence, discipline, endurance, and strength.

So, even if the eurozone s structure is modified to achieve the desired level of fiscal discipline and balance, in its current highly decentralized structure, countries will continue to diverge in other important respects. Divergence in policies and convergence in outcomes is not a realistic expectation.

Contrary to the current discourse, the long term solution must provide a stimulus to get Europe out of a deflationary vicious circle structural reform alone will not do it. The stimulus must come from the EU, because individual countries will be under strict fiscal discipline.

But really it's the same discipline they're kindred disciplines.

It's the same. We need infrastructure, infrastructure and discipline.

Brilliant Metaphors of Xi Jinping about Comprehensively Strengthening Party Discipline

But I think it could still benefit from more discipline.

And so, earlier was talked about cross discipline, about collaboration.