Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/209707 
Erscheinungsjahr: 
2019
Verlag: 
ZBW – Leibniz Information Centre for Economics, Kiel, Hamburg
Zusammenfassung: 
What advice can be given to the policymaker to reduce the burden of public debt after a crisis? In this situation, the debt consolidation calls for fiscal surplus based on increases in taxes and/or reductions in public spending. This paper aims at answering to the above question. Specifically, it evaluates different policy options on the table using the estimated model of the Italian dynamic General Equilibrium Model (IGEM). Our main message is that plans aimed at reducing the public debt based on tax increases rather than expenditure reductions are more effective. Therefore, consolidation should be designed on the former.
Schlagwörter: 
Austerity
Public debt
Output
Fiscal adjustment plans
JEL: 
E60
E62
Dokumentart: 
Working Paper

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