| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14072 |
| DP14072 Austerity and Public debt Dynamics | |
| Carlo A. Favero | |
| 发表日期 | 2019-10-22 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | This paper studies the impact of multi-year fiscal consolidation plans on public debt dynamics. Studying the dynamic impact of narratively identified fiscal adjustment plans we find that tax based adjustments result in significant slowdowns of output and inflation but have almost no effect on the debt GDP ratio over a short to medium-term horizon. Spending cuts have instead milder recessionary effects, but contribute to a sustained reduction in the debt GDP ratio. Extending our model to study non-linearities in the dynamics related to the business-cycle and the public debt to GDP ratio, we find that the heterogeneous impact of tax-based and expenditure-based plans on debt mainly emerges mostly in recessions and when debt is increasing rapidly. |
| 主题 | International Macroeconomics and Finance |
| 关键词 | Austerity Public debt Output growth Fiscal adjustment plans |
| URL | https://cepr.org/publications/dp14072 |
| 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/542957 |
| 推荐引用方式 GB/T 7714 | Carlo A. Favero. DP14072 Austerity and Public debt Dynamics. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Carlo A. Favero]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Carlo A. Favero]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Carlo A. Favero]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
