Nuovi approcci alla politica fiscale ed evidenza empirica
The paper analyses and discusses the relationship among fiscal contractions, permanent improvements in public finances and short-run macroeconomic performance. In the last decade, new theoretical approaches have been proposed from a lively literature and many studies tried to support theory with a c...
Saved in:
| Published in | Economia politica (Bologna, Italy) no. 3; pp. 427 - 460 |
|---|---|
| Main Author | |
| Format | Journal Article |
| Language | English Italian |
| Published |
Società editrice il Mulino
01.12.2001
|
| Series | Economia politica |
| Online Access | Get more information |
Cover
Loading…
| Summary: | The paper analyses and discusses the relationship among fiscal contractions, permanent improvements in public finances and short-run macroeconomic performance. In the last decade, new theoretical approaches have been proposed from a lively literature and many studies tried to support theory with a clear empirical evidence. The main idea is that fiscal consolidations that concentrate on the expenditure side and unfold over a relatively long time span are more likely to succeed in reducing the public debt ratio than tax-based or shorter adjustments. Furthermore, macroeconomic consequences are strictly related to fiscal successfulness: only successful contractions do not trigger economic slowdowns. The policy implications of this new approach are here discussed and investigated with respect to the empirical evidence. |
|---|---|
| ISSN: | 1120-2890 |