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Fiscal Expansions and Fiscal Adjustments in OECD Countries
Ist Teil von
NBER Working Paper Series, 1995-08, p.5214
Ort / Verlag
Cambridge: National Bureau of Economic Research, Inc
Erscheinungsjahr
1995
Link zum Volltext
Quelle
National Bureau of Economic Research Publications
Beschreibungen/Notizen
Working Paper No. 5214 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.