Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy: What Do the Data Say?
The 2007-09 Great Recession has led to an unprecedented increase in public debt in many countries, triggering substantial fiscal adjustments. What are the distributional consequences of fiscal austerity measures? This is an important policy question. This paper analyzes the effects of fiscal policie...
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| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C
International Monetary Fund
2013
|
| Series: | IMF Working Papers
Working Paper No. 13/195 |
| Online Access: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Summary: | The 2007-09 Great Recession has led to an unprecedented increase in public debt in many countries, triggering substantial fiscal adjustments. What are the distributional consequences of fiscal austerity measures? This is an important policy question. This paper analyzes the effects of fiscal policies on income inequality in a panel of advanced and emerging market economies over the last three decades, complemented by a case study of selected consolidation episodes. The paper shows that fiscal consolidations are likely to raise inequality through various channels including their effects on unemployment. Spending-based consolidations tend to worsen inequality more significantly, relative to tax-based consolidations. The composition of austerity measures also matters: progressive taxation and targeted social benefits and subsidies introduced in the context of a broader decline in spending can help offset some of the adverse distributional impact of consolidation. In addition, fiscal policy can favorably influence long-term trends in both inequality and growth by promoting education and training among low- and middle-income workers |
| Physical Description: | 1 Online-Ressource (37 p) |
| ISBN: | 1484390911 9781484390917 |
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| id | DE-604.BV048341930 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:14Z |
| indexdate | 2024-07-10T09:35:21Z |
| institution | BVB |
| isbn | 1484390911 9781484390917 |
| language | English |
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| oclc_num | 1337120703 |
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| physical | 1 Online-Ressource (37 p) |
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| publishDate | 2013 |
| publishDateSearch | 2013 |
| publishDateSort | 2013 |
| publisher | International Monetary Fund |
| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Woo, Jaejoon Verfasser aut Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy What Do the Data Say? Woo, Jaejoon Washington, D.C International Monetary Fund 2013 1 Online-Ressource (37 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 13/195 The 2007-09 Great Recession has led to an unprecedented increase in public debt in many countries, triggering substantial fiscal adjustments. What are the distributional consequences of fiscal austerity measures? This is an important policy question. This paper analyzes the effects of fiscal policies on income inequality in a panel of advanced and emerging market economies over the last three decades, complemented by a case study of selected consolidation episodes. The paper shows that fiscal consolidations are likely to raise inequality through various channels including their effects on unemployment. Spending-based consolidations tend to worsen inequality more significantly, relative to tax-based consolidations. The composition of austerity measures also matters: progressive taxation and targeted social benefits and subsidies introduced in the context of a broader decline in spending can help offset some of the adverse distributional impact of consolidation. In addition, fiscal policy can favorably influence long-term trends in both inequality and growth by promoting education and training among low- and middle-income workers Online-Ausg Bova, Elva Sonstige oth Kinda, Tidiane Sonstige oth Zhang, Yuanyan Sophia Sonstige oth http://elibrary.imf.org/view/IMF001/20806-9781484390917/20806-9781484390917/20806-9781484390917.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Woo, Jaejoon Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy What Do the Data Say? |
| title | Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy What Do the Data Say? |
| title_auth | Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy What Do the Data Say? |
| title_exact_search | Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy What Do the Data Say? |
| title_exact_search_txtP | Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy What Do the Data Say? |
| title_full | Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy What Do the Data Say? Woo, Jaejoon |
| title_fullStr | Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy What Do the Data Say? Woo, Jaejoon |
| title_full_unstemmed | Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy What Do the Data Say? Woo, Jaejoon |
| title_short | Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy |
| title_sort | distributional consequences of fiscal consolidation and the role of fiscal policy what do the data say |
| title_sub | What Do the Data Say? |
| url | http://elibrary.imf.org/view/IMF001/20806-9781484390917/20806-9781484390917/20806-9781484390917.xml |
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