|PECULIARITIES OF FISCAL REGULATION IN CRISIS ECONOMY|
|Abstract. The article covers the problems of peculiarities of implementing the fiscal policy in regard to a new institutional mechanism – fiscal rules and regulations that can prevent the debt crisis and strengthen the fiscal discipline. The experience of USA, Japan, and EU countries in the realization of fiscal policy based on fiscal rules and regulations has been analyzed. The relevance of implementing fiscal policy in a crisis economy through “institutional arrangement” of fiscal rules into legal procedures of debt and fiscal strategy has been grounded. Author states, that alternative measures of post-crisis recovery of the economy (inflation tax defaults) contain no less contradictory socio-economic consequences
|Key words: fiscal policy, fiscal consolidation, fiscal rules, taxes, subsidies, budget
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