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Fiscal Expansions and Fiscal Adjustments in OECD Countries

Alberto AlesinaRoberto Perotti

出版	National Bureau of Economic Research, 1995
URL	http://books.google.com.hk/books?id=EVWyAAAAIAAJ&hl=&source=gbs_api

註釋

This paper considers budget expansions and adjustments in OECD countries in the last three decades. Our main results are: i) on average fiscal expansions are the results of increases in expenditures, particularly of transfer programs, while contractions are typically due to tax increases; ii) however successful (i.e. long lasting), a minority of the total rely primarily on reduction of government wages and employment and cuts in transfer programs; iii) even major successful fiscal adjustments do not seem to have recessionary consequences, on average; iv) different types of governments show different degrees of success at implementing successful fiscal adjustment, with coalition governments showing the worst performance.