Fiscal consolidation and reforms: Substitutes, not complements

Coen Teulings, 13 September 2012



Many OECD countries suffer from high sovereign debts. Sooner or later, this problem must be addressed. That will require some form of fiscal retrenchment.

Topics: Macroeconomic policy, Taxation
Tags: austerity, fiscal crises, Fiscal retrenchment, Institutional reform

Fiscal adjustments and the recession

Alberto Alesina, 12 November 2010



Many European countries are engaged in large fiscal adjustments. The standard Keynesian view is that these adjustments will cause deep recessions especially if they occur on the spending side (see for example Krugman 2010).

Topics: Macroeconomic policy
Tags: budget cuts, Fiscal crisis, Fiscal retrenchment

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