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Our Research Catalogue contains grants and outputs data up until April/May 2014.

New Directions in Monetary and Fiscal Policy Analysis at the Macroeconomic Level

Grant reference: RES-062-23-1436

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Journal article details

Uncertain fiscal consolidations
The paper explores the macroeconomic consequences of fiscal consolidations whose timing and composition—either tax- or spending-based—are uncertain. We find that the composition of the fiscal consolidation, its duration, the monetary policy stance, the level of government debt, and expectations over the likelihood and composition of fiscal consolidations all matter in determining the extent to which a given consolidation is expansionary or successful in stabilising government debt. We argue that the conditions that could render fiscal consolidation efforts expansionary are unlikely to apply in the current economic environment.
English

Primary contributor

Co-author Campbell Leith

Additional contributors

Co-author Huixin Bi
Co-author Eric Leeper

Additional details

Yes
0013-0133
Blackwell Publishing
07 February 2013
Oxford
Pre-print
Economic journal

Files

BiLeeperLeith_EJ_5th.pdf (.pdf / 348kb)