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Is Fiscal Austerity Good for the Economy?

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Abstract

Concerns about fiscal imbalances in Europe and the United States have led to intense debates about whether governments should dramatically cut spending or increase taxes to reduce government debt ? a course of action often called fiscal "austerity." But is austerity likely to hurt economic growth? That question has not been definitively answered ? but even if austerity is costly in the short run, it may provide long-run benefits.

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  • Renee Courtois Haltom & Thomas A. Lubik, 2013. "Is Fiscal Austerity Good for the Economy?," Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, issue Sept.
    • Handle: RePEc:fip:fedreb:00004
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    File URL: https://fraser.stlouisfed.org/files/docs/historical/frbrich/econbrief/frbrich_eb_13-09.pdf?utm_source=direct_download
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    Cited by:

    1. Čekanavičius Linas, 2018. "On the Choice of Fiscal Adjustment to Financial Crises: Expansionary vs. Contractionary Policies," Ekonomika (Economics), Sciendo, vol. 97(2), pages 7-17, December.

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    Keywords

    Economic Growth; Fiscal Policy;

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