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Abstract

In the context of recent research in political economy, this paper addresses the policy problem of fiscal consolidation in terms of three types of issues: 1) the macroeconomic effects of alternative strategies to consolidate; 2) the institutional setups conducive to a consolidation; and 3) the best strategy for implementing a consolidation in order to maximize its political feasibility. One methodological feature of this survey is an emphasis on policy feasibility. One methodological feature of this survey is an emphasis on policy issues in order to bridge the gap between the level of abstraction of politico-economic models of fiscal policy and the issues faced by a policymaker when attempting a fiscal consolidation. Copyright 1998 by The editors of the Scandinavian Journal of Economics.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Scandinavian Journal of Economics.

Volume (Year): 100 (1998)
Issue (Month): 1 (March)
Pages: 367-94

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Handle: RePEc:bla:scandj:v:100:y:1998:i:1:p:367-94

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Cited by:

1. Sebastian Dellepiane & Niamh Hardiman, 2012. "The New Politics of Austerity: Fiscal Responses to the Economic Crisis in Ireland and Spain," Working Papers 201207, Geary Institute, University College Dublin.
2. Graeme Roy, 2006. "Grants Versus Tax Sharing: the Extent of Central Government Control," ERSA conference papers ersa06p74, European Regional Science Association.
3. Carlos Mulas-Granados, 2003. "The Trade-Off between Growth & Equality and the Economic Impact of Alternative Fiscal Adjustment Strategies in the EU," European Economy Group Working Papers 20, European Economy Group.
4. Natan P. Epstein & Selim Elekdag & Marialuz Moreno Badia, 2006. "Fiscal Consolidation in Israel: A Global Fiscal Model Perspective," IMF Working Papers 06/253, International Monetary Fund.
   
   • Selim Elekdag & Natan Epstein & Marialuz Moreno-Badía, 2007. "Fiscal Consolidation in Israel: A Global Fiscal Model Perspective," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 43(6), pages 67-86, November.
5. António Afonso, 2006. "Expansionary fiscal consolidations in Europe: new evidence," Working Papers 2006/18, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon..
   
   • Antonio Afonso, 2010. "Expansionary fiscal consolidations in Europe: new evidence," Applied Economics Letters, Taylor and Francis Journals, vol. 17(2), pages 105-109.
   • António Afonso, 2006. "Expansionary fiscal consolidations in Europe - new evidence," Working Paper Series 675, European Central Bank.
6. Sebastian Hauptmeier & Martin Heipertz & Ludger Schuknecht, 2006. "Expenditure reform in industrialised countries - a case study approach," Working Paper Series 634, European Central Bank.
   
   • Sebastian Hauptmeier & Martin Heipertz & Ludger Schuknecht, 2007. "Expenditure Reform in Industrialised Countries: A Case-Study Approach," Fiscal Studies, Institute for Fiscal Studies, vol. 28(3), pages 293-342, 09.
   • Hauptmeier, Sebastian & Heipertz, Martin & Schuknecht, Ludger, 2006. "Expenditure reform in industralised countries: a case study approach," ZEW Discussion Papers 06-50, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
7. Reyes Maroto Illera & Carlos Mulas-Granados, . "Duration of Fiscal Consolidations in the European Union," Working Papers 2001-19, FEDEA.
8. António Afonso & Christiane Nickel & Philipp Rother, 2005. "Fiscal Consolidations in the Central and Eastern European Countries," Working Papers 2005/03, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon..
   
   • António Afonso & Christiane Nickel & Philipp C. Rother, 2006. "Fiscal Consolidations in the Central and Eastern European Countries," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 142(2), pages 402-421, July.
   • António Afonso & Christiane Nickel & Philipp Rother, 2005. "Fiscal consolidations in the Central and Eastern European countries," Working Paper Series 473, European Central Bank.
9. Mourao, Paulo & Rodrigues, Carlos, 2007. "Abordagens da despesa pública nos últimos vinte anos
   [Twenty years of Perspectives on Public Expenditures]," MPRA Paper 3416, University Library of Munich, Germany.
10. Lavigne, Robert, 2011. "The political and institutional determinants of fiscal adjustment: Entering and exiting fiscal distress," European Journal of Political Economy, Elsevier, vol. 27(1), pages 17-35, March.
11. Benedict J. Clements & Sanjeev Gupta & Emanuele Baldacci & Carlos Mulas-Granados, 2002. "Expenditure Composition, Fiscal Adjustment, and Growth in Low-Income Countries," IMF Working Papers 02/77, International Monetary Fund.
12. Benedict J. Clements & Sanjeev Gupta & Erwin Tiongson & Emanuele Baldacci, 2003. "What Sustains Fiscal Consolidations in Emerging Market Countries?," IMF Working Papers 03/224, International Monetary Fund.
    
    • Sanjeev Gupta & Emanuele Baldacci & Benedict Clements & Erwin R. Tiongson, 2005. "What sustains fiscal consolidations in emerging market countries?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 10(4), pages 307-321.
13. Mati, Amine & Thornton, John, 2008. "The exchange rate and fiscal consolidation episodes in emerging market economies," Economics Letters, Elsevier, vol. 100(1), pages 115-118, July.
14. António Afonso, 2001. "Non-Keynesian Effects of Fiscal Policy in the EU-15," Working Papers 2001/07, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon..
15. Sebastian Dellepiane & Niamh Hardiman, 2012. "Fiscal Politics In Time: Pathways to Fiscal Consolidation, 1980-2012," Working Papers 201228, Geary Institute, University College Dublin.

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