Fiscal Consolidation: Part 2. Fiscal Multipliers and Fiscal Consolidations:
This paper looks at various aspects of fiscal consolidation in 18 OECD economies. The prospects for fiscal consolidation depend upon the problems the country may face with its debt stock, the political will to deal with these problems and on the costs of consolidation. The analysis is based on a ser...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2012
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| Schriftenreihe: | OECD Economics Department Working Papers
no.933 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper looks at various aspects of fiscal consolidation in 18 OECD economies. The prospects for fiscal consolidation depend upon the problems the country may face with its debt stock, the political will to deal with these problems and on the costs of consolidation. The analysis is based on a series of simulations using the National Institute Global Econometric Model, NiGEM. The properties of the NiGEM model are discussed first. Although the model is estimated it has a strong role for expectations and can be run under different modes of expectations formation. This allows a decomposition of the factors that might affect the results. Temporary and permanent shifts in fiscal policy are assessed as well as the potential impact of fiscal consolidation plans under different monetary and fiscal feedback rules and different modes of expectations formation. If fiscal policy is expected to be tightened in the future, then long rates will fall now, and perhaps even induce a short-term expansion of output. Expansionary fiscal contractions of this sort are rare, however, and none are anticipated with the programmes that are investigated. |
| Beschreibung: | 1 Online-Ressource (42 p.) 21 x 29.7cm. |
| DOI: | 10.1787/5k9fdf6bs78r-en |
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| spelling | Barrell, Ray VerfasserIn aut Fiscal Consolidation: Part 2. Fiscal Multipliers and Fiscal Consolidations Ray, Barrell, Dawn, Holland and Ian, Hurst = Consolidation budgétaire : Partie 2. Multiplicateurs budgétaires et assainissement des finances publiques / Ray, Barrell, Dawn, Holland et Ian, Hurst Consolidation budgétaire : Partie 2. Multiplicateurs budgétaires et assainissement des finances publiques Paris OECD Publishing 2012 1 Online-Ressource (42 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.933 This paper looks at various aspects of fiscal consolidation in 18 OECD economies. The prospects for fiscal consolidation depend upon the problems the country may face with its debt stock, the political will to deal with these problems and on the costs of consolidation. The analysis is based on a series of simulations using the National Institute Global Econometric Model, NiGEM. The properties of the NiGEM model are discussed first. Although the model is estimated it has a strong role for expectations and can be run under different modes of expectations formation. This allows a decomposition of the factors that might affect the results. Temporary and permanent shifts in fiscal policy are assessed as well as the potential impact of fiscal consolidation plans under different monetary and fiscal feedback rules and different modes of expectations formation. If fiscal policy is expected to be tightened in the future, then long rates will fall now, and perhaps even induce a short-term expansion of output. Expansionary fiscal contractions of this sort are rare, however, and none are anticipated with the programmes that are investigated. Economics Holland, Dawn MitwirkendeR ctb Hurst, Ian MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/5k9fdf6bs78r-en Volltext |
| spellingShingle | Barrell, Ray Fiscal Consolidation: Part 2. Fiscal Multipliers and Fiscal Consolidations Economics |
| title | Fiscal Consolidation: Part 2. Fiscal Multipliers and Fiscal Consolidations |
| title_alt | Consolidation budgétaire : Partie 2. Multiplicateurs budgétaires et assainissement des finances publiques |
| title_auth | Fiscal Consolidation: Part 2. Fiscal Multipliers and Fiscal Consolidations |
| title_exact_search | Fiscal Consolidation: Part 2. Fiscal Multipliers and Fiscal Consolidations |
| title_full | Fiscal Consolidation: Part 2. Fiscal Multipliers and Fiscal Consolidations Ray, Barrell, Dawn, Holland and Ian, Hurst = Consolidation budgétaire : Partie 2. Multiplicateurs budgétaires et assainissement des finances publiques / Ray, Barrell, Dawn, Holland et Ian, Hurst |
| title_fullStr | Fiscal Consolidation: Part 2. Fiscal Multipliers and Fiscal Consolidations Ray, Barrell, Dawn, Holland and Ian, Hurst = Consolidation budgétaire : Partie 2. Multiplicateurs budgétaires et assainissement des finances publiques / Ray, Barrell, Dawn, Holland et Ian, Hurst |
| title_full_unstemmed | Fiscal Consolidation: Part 2. Fiscal Multipliers and Fiscal Consolidations Ray, Barrell, Dawn, Holland and Ian, Hurst = Consolidation budgétaire : Partie 2. Multiplicateurs budgétaires et assainissement des finances publiques / Ray, Barrell, Dawn, Holland et Ian, Hurst |
| title_short | Fiscal Consolidation: Part 2. Fiscal Multipliers and Fiscal Consolidations |
| title_sort | fiscal consolidation part 2 fiscal multipliers and fiscal consolidations |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/5k9fdf6bs78r-en |
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