'Policy space' is the term frequently used to describe "the freedom, scope, and mechanisms that governments have to choose, design and implement public policies to fulfill their aims" [[ 21], p.7]. Policy capacity refers to the fiscal ability of states to enact those policies or regulations, which depends upon their ability to capture sufficient revenue through taxation for this purpose.
Constantly wielding the threat of a debt default has, ironically, undermined fiscal conservatives' ability to extract meaningful concessions on the debt, as it has hardened Democrats' resolve not to give in to such threats.
The global food price spikes in April and July of 2012 added $8bn£5bnbn) to the food import bills of low-income countries – impacting on their fiscal balances and ability to provide basic services to their populations.
Michelle King to analyze how the outside plan, which was developed by the Broad Foundation, will "affect the district's enrollment, fiscal viability and ability to provide an outstanding public education".
Restrictions on fiscal policy limit the ability of governments to stimulate growth by borrowing and spending.
"It is this worry about the fiscal cliff and the ability of politicians to come to a solution".
Should that give us cause to worry about the SNP's ability as fiscal managers?MS STURGEON: No it shouldn't.
He endeavoured to shift the emphasis of the response from austerity to growth, but the March 2012 EU fiscal pact reduced the ability of signatory countries to embark on stimulus programs funded by deficit spending.
By long-established convention, they have autonomy in domestic policy, including fiscal policy.The islands' ability to set low rates of taxation has been fundamental to their development as offshore financial centres: among the tax benefits they offer are special company-tax regimes, with little or no tax, to attract international business.
Some American economists favour a strict balanced-budget amendment.But by reducing the ability of fiscal policy to respond to developments in the economy, such constraints could put an excessive burden on monetary policy to prevent economies from either overheating or diving into recession.
