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dc.contributor.authorFerrara, Maria
dc.contributor.authorTirelli, Patrizio
dc.date.accessioned2017-06-27T00:35:14Z
dc.date.available2017-06-27T00:35:14Z
dc.date.issued2017
dc.identifier.issn0264-9993
dc.identifier.doi10.1016/j.econmod.2016.11.022
dc.identifier.urihttp://hdl.handle.net/10072/340528
dc.description.abstractEmpirical 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.peerreviewedYes
dc.languageEnglish
dc.language.isoeng
dc.publisherElsevier
dc.relation.ispartofpagefrom207
dc.relation.ispartofpageto223
dc.relation.ispartofjournalEconomic Modelling
dc.relation.ispartofvolume61
dc.subject.fieldofresearchApplied economics
dc.subject.fieldofresearchApplied economics not elsewhere classified
dc.subject.fieldofresearchEconometrics
dc.subject.fieldofresearchcode3801
dc.subject.fieldofresearchcode380199
dc.subject.fieldofresearchcode3802
dc.titleEquitable Fiscal Consolidations
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
dcterms.licensehttp://creativecommons.org/licenses/by-nc-nd/4.0/
dc.description.versionAccepted 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.hasfulltextFull Text
gro.griffith.authorTirelli, Patrizio


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