golden rule of public finance
The "golden rule of public finance" refers to the principle that governments should aim to maintain a fiscal balance by ensuring that the level of public expenditure does not exceed the total revenue generated, thereby avoiding excessive debt accumulation.
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Related Concepts (1)
Similar Concepts
- balanced budget
- fairness in taxation
- fiscal discipline
- fiscal rules for subnational governments
- government borrowing
- government budgeting
- government budgets
- government financial planning
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- pareto efficiency in public policy
- public finance
- public financial management
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