Paulus, Alari
The design of fiscal consolidation : measures in the European Unión distributional effects and implications for macro - economic recovery / by Alari Paulus, Francesco Figari and Holly Sutherland .-- , 2017
Disponible en línea a través de la Biblioteca del Instituto de Estudios Fiscales. Resumen. Bibliografía.
The paper considers the austerity measures introduced in the wake of the financialand economic crisis in the late 2000s in relation to their distributional impact acrosshouseholds and potential effects on aggregate demand.We determine the size, composition and effects of fiscal consolidation using a .bottom-up. measurement strategy and find notable cross-country variation. We show that while richer households tend to bear a greater burden in most countries,combined cuts in public wages and transfers are more likely to affect liquidity-constrained households and thereby aggregate demand, casting doubts on the presumed effectiveness of such measures for macro-economic recovery. This suggests that in order to reach robust policy conclusions it is important to consider the distributional patterns of detailed policy measures.
POLITICA FISCAL
CONSOLIDACION
POLITICA DE GASTO PUBLICO
GASTO PUBLICO
PRESUPUESTOS
REDUCCION
UNION EUROPEA
Figari, Francesco
Sutherland, Holly
Oxford Economic Papersv. 69, n. 3, July 2017, p. 632-654
The design of fiscal consolidation : measures in the European Unión distributional effects and implications for macro - economic recovery / by Alari Paulus, Francesco Figari and Holly Sutherland .-- , 2017
Disponible en línea a través de la Biblioteca del Instituto de Estudios Fiscales. Resumen. Bibliografía.
The paper considers the austerity measures introduced in the wake of the financialand economic crisis in the late 2000s in relation to their distributional impact acrosshouseholds and potential effects on aggregate demand.We determine the size, composition and effects of fiscal consolidation using a .bottom-up. measurement strategy and find notable cross-country variation. We show that while richer households tend to bear a greater burden in most countries,combined cuts in public wages and transfers are more likely to affect liquidity-constrained households and thereby aggregate demand, casting doubts on the presumed effectiveness of such measures for macro-economic recovery. This suggests that in order to reach robust policy conclusions it is important to consider the distributional patterns of detailed policy measures.
POLITICA FISCAL
CONSOLIDACION
POLITICA DE GASTO PUBLICO
GASTO PUBLICO
PRESUPUESTOS
REDUCCION
UNION EUROPEA
Figari, Francesco
Sutherland, Holly
Oxford Economic Papersv. 69, n. 3, July 2017, p. 632-654