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Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
CESifo Working Paper No. 3965
Verlag: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Zusammenfassung: 
In this paper, we study the aggregate and distributional implications of a smaller public sector in the euro area. By a smaller public sector, we mean a reduction in public debt and/or cuts in public spending, when such changes in fiscal policy are accommodated by adjustment in various taxes. Aggregate implications have to do with per capita output and welfare, while distribution refers to differences in income and welfare between private and public sector employees. We solve the model numerically using fiscal data from the euro area and then do a number of policy experiments. The general message is that the issue is not just a smaller public sector, but also the spending-tax mix chosen.
Schlagwörter: 
size of public sector
debt consolidation
taxation
reforms
JEL: 
H10
H20
H30
Dokumentart: 
Working Paper
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