Fiscal Consolidation Across Government Levels - Part 1. How Much, What Policies?:
This paper provides an overview of fiscal consolidation efforts at the central and sub-central government level, both during the current and past consolidation episodes. After experiencing a deficit and debt hike during the crisis, sub-central debt is mostly stabilising. So far, sub-central consolid...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2013
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Schlagworte: | |
| Online-Zugang: | kostenfrei |
| Zusammenfassung: | This paper provides an overview of fiscal consolidation efforts at the central and sub-central government level, both during the current and past consolidation episodes. After experiencing a deficit and debt hike during the crisis, sub-central debt is mostly stabilising. So far, sub-central consolidation has been mainly achieved through spending cuts, while overall revenues remained largely stable. Sub-central tax revenues rose a bit, but intergovernmental transfers went down slightly. Sub-central governments in a few countries need to consolidate further, if they want to reach debt levels of 2007 or 2011 by the year 2026, as shown by fiscal gap calculations. During past consolidation episodes, sub-central consolidation increased the probability of debt stabilisation at the general government level. Reductions in intergovernmental grants improved the success rate. Central and sub-central deficits tended to move in parallel, although some subcentral governments experienced a "second trough" three or four years after consolidation had started. The paper suggests a number of instruments that could help sub-central governments consolidate their budgets, and argues in favour of amendments to sub-central fiscal rules |
| Beschreibung: | 1 Online-Ressource (35 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5k43nxr99zd6-en |
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| spelling | Blöchliger, Hansjörg Verfasser aut Fiscal Consolidation Across Government Levels - Part 1. How Much, What Policies? Hansjörg Blöchliger = Assainissement budgétaire aux différents niveaux d'administration - Partie 1. Quelles politiques pour quel degré d'assainissement ? / Hansjörg Blöchliger Assainissement budgétaire aux différents niveaux d'administration - Partie 1. Quelles politiques pour quel degré d'assainissement ? Paris OECD Publishing 2013 1 Online-Ressource (35 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers This paper provides an overview of fiscal consolidation efforts at the central and sub-central government level, both during the current and past consolidation episodes. After experiencing a deficit and debt hike during the crisis, sub-central debt is mostly stabilising. So far, sub-central consolidation has been mainly achieved through spending cuts, while overall revenues remained largely stable. Sub-central tax revenues rose a bit, but intergovernmental transfers went down slightly. Sub-central governments in a few countries need to consolidate further, if they want to reach debt levels of 2007 or 2011 by the year 2026, as shown by fiscal gap calculations. During past consolidation episodes, sub-central consolidation increased the probability of debt stabilisation at the general government level. Reductions in intergovernmental grants improved the success rate. Central and sub-central deficits tended to move in parallel, although some subcentral governments experienced a "second trough" three or four years after consolidation had started. The paper suggests a number of instruments that could help sub-central governments consolidate their budgets, and argues in favour of amendments to sub-central fiscal rules Taxation Economics https://doi.org/10.1787/5k43nxr99zd6-en Verlag kostenfrei Volltext |
| spellingShingle | Blöchliger, Hansjörg Fiscal Consolidation Across Government Levels - Part 1. How Much, What Policies? Taxation Economics |
| title | Fiscal Consolidation Across Government Levels - Part 1. How Much, What Policies? |
| title_alt | Assainissement budgétaire aux différents niveaux d'administration - Partie 1. Quelles politiques pour quel degré d'assainissement ? |
| title_auth | Fiscal Consolidation Across Government Levels - Part 1. How Much, What Policies? |
| title_exact_search | Fiscal Consolidation Across Government Levels - Part 1. How Much, What Policies? |
| title_exact_search_txtP | Fiscal Consolidation Across Government Levels - Part 1. How Much, What Policies? |
| title_full | Fiscal Consolidation Across Government Levels - Part 1. How Much, What Policies? Hansjörg Blöchliger = Assainissement budgétaire aux différents niveaux d'administration - Partie 1. Quelles politiques pour quel degré d'assainissement ? / Hansjörg Blöchliger |
| title_fullStr | Fiscal Consolidation Across Government Levels - Part 1. How Much, What Policies? Hansjörg Blöchliger = Assainissement budgétaire aux différents niveaux d'administration - Partie 1. Quelles politiques pour quel degré d'assainissement ? / Hansjörg Blöchliger |
| title_full_unstemmed | Fiscal Consolidation Across Government Levels - Part 1. How Much, What Policies? Hansjörg Blöchliger = Assainissement budgétaire aux différents niveaux d'administration - Partie 1. Quelles politiques pour quel degré d'assainissement ? / Hansjörg Blöchliger |
| title_short | Fiscal Consolidation Across Government Levels - Part 1. How Much, What Policies? |
| title_sort | fiscal consolidation across government levels part 1 how much what policies |
| topic | Taxation Economics |
| topic_facet | Taxation Economics |
| url | https://doi.org/10.1787/5k43nxr99zd6-en |
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