Il est coécrit avec Jorge Guerra, Gustavo Sánchez et Oscar Valencia.

This paper investigates whether compliance with fiscal rules (FRs) is sufficient to ensure public finance sustainability. Using compliance data and a sustainability measure derived from fiscal reaction functions, we compare average compliance rates with fiscal sustainability across countries, categorizing them into quadrants to identify patterns of alignment and misalignment. We also analyze the impact of sustained compliance or non-compliance over time. Our findings reveal that compliance alone does not guarantee sustainability. Effective fiscal frameworks must include mechanisms like debt anchors and structural reforms to bridge this gap, highlighting the need for stronger and more adaptive fiscal rules to ensure resilience.