| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13565 |
| DP13565 Effects of Austerity: Expenditure- and Tax-based Approaches | |
| Carlo A. Favero; Francesco Giavazzi; Alberto Alesina | |
| 发表日期 | 2019-03-03 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We review the debate surrounding the macroeconomic effects of deficit reduction policies (austerity). The discussion about "austerity" in general has distracted commentators and policymakers from a very important result, namely the enormous difference, on average, between expenditure- and tax-based austerity plans. Spending-based austerity plans are remarkably less costly than tax-based plans. The former have on average a close to zero effect on output and lead to a reduction of the debt over GDP ratio. Tax-based plans have the opposite effect and cause large and long lasting recessions. These results also apply to the recent episodes of European austerity which in this respect were not especially different from previous cases. |
| 主题 | International Macroeconomics and Finance |
| 关键词 | Austerity Fiscal adjustment plans Output growth |
| URL | https://cepr.org/publications/dp13565 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542421 |
| 推荐引用方式 GB/T 7714 | Carlo A. Favero,Francesco Giavazzi,Alberto Alesina. DP13565 Effects of Austerity: Expenditure- and Tax-based Approaches. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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