dc.contributor.author | Ferrara, Maria | |
dc.contributor.author | Tirelli, Patrizio | |
dc.date.accessioned | 2017-06-27T00:35:14Z | |
dc.date.available | 2017-06-27T00:35:14Z | |
dc.date.issued | 2017 | |
dc.identifier.issn | 0264-9993 | |
dc.identifier.doi | 10.1016/j.econmod.2016.11.022 | |
dc.identifier.uri | http://hdl.handle.net/10072/340528 | |
dc.description.abstract | Empirical research has uncovered an equity-efficiency trade-off in alternative fiscal consolidation strategies. Spending-based adjustments are associated with more limited output losses but greater inequality than tax-based adjustments. Moreover, spending-based adjustments are less likely to be reversed, but an increase in inequality reduces the likelihood of achieving a successful consolidation. We investigate the issue of designing a debt consolidation plan which is achieved through a reduction in public consumption and yet is equitable because temporary targeted transfers and tax reductions stabilize consumption of the poorer part of the population. This causes a limited slow-down in the pace of debt reduction because fiscal multipliers associated to the tax/transfer policies are large. | |
dc.description.peerreviewed | Yes | |
dc.language | English | |
dc.language.iso | eng | |
dc.publisher | Elsevier | |
dc.relation.ispartofpagefrom | 207 | |
dc.relation.ispartofpageto | 223 | |
dc.relation.ispartofjournal | Economic Modelling | |
dc.relation.ispartofvolume | 61 | |
dc.subject.fieldofresearch | Applied economics | |
dc.subject.fieldofresearch | Applied economics not elsewhere classified | |
dc.subject.fieldofresearch | Econometrics | |
dc.subject.fieldofresearchcode | 3801 | |
dc.subject.fieldofresearchcode | 380199 | |
dc.subject.fieldofresearchcode | 3802 | |
dc.title | Equitable Fiscal Consolidations | |
dc.type | Journal article | |
dc.type.description | C1 - Articles | |
dc.type.code | C - Journal Articles | |
dcterms.license | http://creativecommons.org/licenses/by-nc-nd/4.0/ | |
dc.description.version | Accepted Manuscript (AM) | |
gro.rights.copyright | © 2017 Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (http://creativecommons.org/licenses/by-nc-nd/4.0/) which permits unrestricted, non-commercial use, distribution and reproduction in any medium, providing that the work is properly cited. | |
gro.hasfulltext | Full Text | |
gro.griffith.author | Tirelli, Patrizio | |