This presentation was given at a workshop entitled 'European Public Finances Through the Financial Crisis' at the ZEW Centre for European Economic Research, Mannheim, Germany.
This paper was presented at the Fiscal Rules Roundtable at the Institute for Fiscal Studies on 21 May 2014. This event formed part of a programme of work funded by the ESRC entitled "Combining micro- and macro- economic approaches to fiscal policy evaluation"
On 19 May Professor Raj Chetty (Harvard) delivered the 2014 IFS annual lecture on the "The Determinants of Social Mobility: New Evidence and Policy Lessons"