Fiscal Expansions And Fiscal Adjustments In Oecd Countries
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Fiscal Expansions and Fiscal Adjustments in OECD Countries
Author | : Alberto Alesina |
Publisher | : |
Total Pages | : 56 |
Release | : 1995 |
Genre | : Banks and banking, Central |
ISBN | : |
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This paper considers budget expansions and adjustments in OECD countries in the last three decades. Our main results are: i) on average fiscal expansions are the results of increases in expenditures, particularly of transfer programs, while contractions are typically due to tax increases; ii) however successful (i.e. long lasting), a minority of the total rely primarily on reduction of government wages and employment and cuts in transfer programs; iii) even major successful fiscal adjustments do not seem to have recessionary consequences, on average; iv) different types of governments show different degrees of success at implementing successful fiscal adjustment, with coalition governments showing the worst performance.
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