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Success Factors of Budget Consolidation Strategies in International Comparison


  • Hans Pitlik


  • Norbert Gruber
  • Ewald Walterskirchen



As a result of the economic crisis many countries are battling rising debt once more. Therefore political discussions about future consolidation strategies are becoming more frequent. As there is a large number of relevant studies on to fiscal adjustment, this article tries to sum up and compare the main findings of the existing literature.

Suggested Citation

  • Hans Pitlik & Norbert Gruber & Ewald Walterskirchen, 2010. "Success Factors of Budget Consolidation Strategies in International Comparison," WIFO Monatsberichte (monthly reports), WIFO, vol. 83(3), pages 233-245, March.
  • Handle: RePEc:wfo:monber:y:2010:i:3:p:233-245

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    References listed on IDEAS

    1. C. John McDermott & Robert F. Wescott, 1996. "An Empirical Analysis of Fiscal Adjustments," IMF Staff Papers, Palgrave Macmillan, vol. 43(4), pages 725-753, December.
    2. Roberto Perotti, 1999. "Fiscal Policy in Good Times and Bad," The Quarterly Journal of Economics, Oxford University Press, vol. 114(4), pages 1399-1436.
    3. Andrea Zaghini, 1999. "The economyc policy of fiscal consolidations: The european experience," Temi di discussione (Economic working papers) 355, Bank of Italy, Economic Research and International Relations Area.
    4. Helene Poirson Ward & Luca A Ricci & Catherine A Pattillo, 2004. "What Are the Channels Through Which External Debt Affects Growth?," IMF Working Papers 04/15, International Monetary Fund.
    5. Markus Marterbauer & Ewald Walterskirchen, 2000. "Verteilungseffekte des Regierungsprogramms," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 26(2), pages 183-197.
    6. Ardagna, Silvia, 2004. "Fiscal Stabilizations: When Do They Work and Why," Scholarly Articles 2580047, Harvard University Department of Economics.
    7. 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, September.
    8. Ardagna, Silvia, 2004. "Fiscal stabilizations: When do they work and why," European Economic Review, Elsevier, vol. 48(5), pages 1047-1074, October.
    9. Alberto Alesina & Roberto Perotti, 1997. "Fiscal Adjustments in OECD Countries: Composition and Macroeconomic Effects," IMF Staff Papers, Palgrave Macmillan, vol. 44(2), pages 210-248, June.
    10. Stéphanie Guichard & Mike Kennedy & Eckhard Wurzel & Christophe André, 2007. "What Promotes Fiscal Consolidation: OECD Country Experiences," OECD Economics Department Working Papers 553, OECD Publishing.
    11. Ewald Walterskirchen, 1987. "Budgetsanierung in einigen westeuropäischen Ländern," WIFO Monatsberichte (monthly reports), WIFO, vol. 60(7), pages 454-463, July.
    12. Gunther Tichy, 2009. "Einige unkonventionelle Gedanken zum Leben nach der Krise," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 35(4), pages 501-513.
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