| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23385 |
| 来源ID | Working Paper 23385 |
| The Effects of Fiscal Consolidations: Theory and Evidence | |
| Alberto Alesina; Omar Barbiero; Carlo Favero; Francesco Giavazzi; Matteo Paradisi | |
| 发表日期 | 2017-05-08 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We investigate the macroeconomic effects of fiscal consolidations based upon government spending cuts, transfers cuts and tax hikes. We extend a narrative dataset of fiscal consolidations, with details on over 3500 measures for 16 OECD countries. We show that government spending cuts and cuts in transfers are much less harmful than tax hikes, despite the fact that non-distortionary transfers are not classified as spending. Standard New Keynesian models robustly match our results when fiscal shocks are persistent. Wealth effects on aggregate demand mitigate the impact of a persistent spending cut. Static distortions caused by persistent tax hikes cause larger shifts in aggregate supply under sticky prices. |
| 主题 | Macroeconomics ; Fiscal Policy ; Public Economics ; National Fiscal Issues |
| URL | https://www.nber.org/papers/w23385 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/581059 |
| 推荐引用方式 GB/T 7714 | Alberto Alesina,Omar Barbiero,Carlo Favero,et al. The Effects of Fiscal Consolidations: Theory and Evidence. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23385.pdf（567KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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