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  • Author or Editor: András Balatoni x
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In this paper, I outline an alternative public debt rule, a basic structure that provides a sufficient reduction of public debt in the long term, with an escape clause ensuring the opportunity for countercyclical budgetary manoeuvring and the avoidance of the so-called ratchet effect. The last section outlines a basic institutional framework. I have raised this topic in the hope of supporting the Hungarian discussion about fiscal rules and perhaps to contribute to it. I am certain that this rule is far from perfect, but I believe it is a good starting point.

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