structural macro models, fiscal multipliers, rational expectations, budget consolidation, OECD

Publication date: 4 Jan 2013 | Publication type: Journal article/book/chapter | Theme: Macroeconomics | Authors: Barrell, R, Holland, D, Hurst, I | JEL classification: E17, E37, E62 | Journal: OECD Journal: Economic Studies No. 1 Vol. 2012 | Pages: 71-102
This article looks at various aspects of fiscal consolidation in 18 OECD economies. The prospects for fiscal consolidation depend upon the problems a country may face with its debt stock, the political will to deal with these problems and on the costs of consolidation. These costs are a function of...