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Consolidating the budget under difficult conditions — Ten guidelines viewed against Europe’s beginning consolidation programmes

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  • Karl Aiginger
  • Margit Schratzenstaller

Abstract

Apparently the consolidation programmes that individual EU countries have presented so far broadly tend to take "the easy road". The latter includes short-term cuts in public sector pay, which are easy to push through, but do not lead to a lasting improvement of public finances, as well as an increase of taxes on consumption, the largest component of aggregate demand. These measures are implemented without simultaneously initiating comprehensive structural reforms of government spending as well as tax systems. They largely disregard the problems which already existed before the economic crisis or even contributed to it.
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  • Karl Aiginger & Margit Schratzenstaller, 2011. "Consolidating the budget under difficult conditions — Ten guidelines viewed against Europe’s beginning consolidation programmes," Intereconomics: Review of European Economic Policy, Springer;German National Library of Economics;Centre for European Policy Studies (CEPS), vol. 46(1), pages 36-42, January.
  • Handle: RePEc:spr:intere:v:46:y:2011:i:1:p:36-42
    DOI: 10.1007/s10272-011-0363-x
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    References listed on IDEAS

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    1. European Commission, 2010. "Taxation trends in the European Union: 2010 edition," Taxation trends 2010, Directorate General Taxation and Customs Union, European Commission.
    2. Francesco Giavazzi & Marco Pagano, 1990. "Can Severe Fiscal Contractions Be Expansionary? Tales of Two Small European Countries," NBER Chapters,in: NBER Macroeconomics Annual 1990, Volume 5, pages 75-122 National Bureau of Economic Research, Inc.
    3. Alberto Alesina & Silvia Ardagna, 2010. "Large Changes in Fiscal Policy: Taxes versus Spending," NBER Chapters,in: Tax Policy and the Economy, Volume 24, pages 35-68 National Bureau of Economic Research, Inc.
    4. Achim Truger & Katja Rietzler & Henner Will & Rudolf Zwiener, 2010. "Alternative Strategien der Budgetkonsolidierung in Österreich nach der Rezession," IMK Studies 02-2010, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    5. Markus Marterbauer, 2010. "Budgetpolitik im Zeitalter verminderter Erwartungen," IMK Working Paper 6-2010, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
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    Cited by:

    1. Karl Aiginger & Stefan Ederer & Margit Schratzenstaller, 2012. "Welfare, Wealth and Work for Europe – WWWforEurope: A New Development Strategy for Europe. Objective, Research Design and Project Consortium," Austrian Economic Quarterly, WIFO, vol. 17(3), pages 224-230, November.
    2. Manfred Overhaus & Ulrich Maas & Aiginger. Karl & Margit Schratzenstaller-Altzinger, 2012. "Weg aus dem Schuldenhaushalt: Ist eine Tilgung der Staatsschulden möglich?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 65(05), pages 03-14, March.

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