Ten Commandments for a Fiscal Rule in the E(M)U
提出货币联盟财政规则应满足的十条标准，并用这些标准评估了《稳定与增长公约》、英国的黄金规则和可持续投资规则以及Buiter和Grafe的永久平衡规则。
Fiscal rules in a monetary union should (1) be simple; (2) ensure the solvency of the state; (3) relate to the consolidated general government and central bank; (4) be neutral as regards the size of the public sector; (5) avoid pro‐cyclical behaviour of the fiscal policy instruments; (6) also make sense in the long run; (7) allow for important differences in economic structure and initial conditions; (8) aggregate into behaviour that makes sense at the level of the union as a whole; (9) be credible; and (10) be enforced impartially and consistently. The paper reviews the rules of the Stability and Growth Pact, the UK's golden rule and sustainable‐investment rule, and Buiter and Grafe's permanent‐balance rule from the perspective of how well they meet these ten criteria.