The Resource Fiscal Consolidation: Part 1. How Much is Needed and How to Reduce Debt to a Prudent Level?, Douglas Sutherland, Peter Hoeller and Rossana Merola, (electronic resource)

Fiscal Consolidation: Part 1. How Much is Needed and How to Reduce Debt to a Prudent Level?, Douglas Sutherland, Peter Hoeller and Rossana Merola, (electronic resource)

Label
Fiscal Consolidation: Part 1. How Much is Needed and How to Reduce Debt to a Prudent Level?
Title
Fiscal Consolidation: Part 1. How Much is Needed and How to Reduce Debt to a Prudent Level?
Statement of responsibility
Douglas Sutherland, Peter Hoeller and Rossana Merola
Creator
Contributor
Subject
Language
eng
Summary
The economic and financial crisis was the catalyst for a fiscal crisis that engulfs many OECD countries. In most countries, budget deficits soared as a result of the economic slump, weaker revenues and the policy response to the crisis. Consolidating the public finances is an important challenge for many countries. Estimates of fiscal gaps suggest that substantial and sustained fiscal tightening will be needed in nearly all countries to bring debt down to prudent levels. However, given a weak global economy, implementing a large fiscal tightening could be particularly costly. Structuring consolidation packages to use instruments with low multipliers initially and enhancing the institutional framework for fiscal policy to lend greater credibility to the commitment to consolidate over time may help minimise the trade-offs with growth in the short run. In most countries there is scope to target spending programmes more effectively and eliminate distortions in taxation and re-orientate taxation to minimise distortions. Such measures, buttressed by structural reforms, such as to unsustainable pension systems, can underpin fiscal sustainability, while minimising the costs to long-run growth
Member of
Cataloging source
SFB
http://library.link/vocab/creatorName
Sutherland, Douglas
Government publication
international or intergovernmental publication
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
  • Hoeller, Peter
  • Merola, Rossana
Series statement
OECD Economics Department Working Papers,
Series volume
no.932
http://library.link/vocab/subjectName
  • Economics
  • Taxation
Label
Fiscal Consolidation: Part 1. How Much is Needed and How to Reduce Debt to a Prudent Level?, Douglas Sutherland, Peter Hoeller and Rossana Merola, (electronic resource)
Instantiates
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
778885371
Dimensions
cm.
Extent
1 online resource (76 pages)
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5k9h28rhqnxt-en
Specific material designation
remote
System control number
(OCoLC)778885371
Label
Fiscal Consolidation: Part 1. How Much is Needed and How to Reduce Debt to a Prudent Level?, Douglas Sutherland, Peter Hoeller and Rossana Merola, (electronic resource)
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
778885371
Dimensions
cm.
Extent
1 online resource (76 pages)
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5k9h28rhqnxt-en
Specific material designation
remote
System control number
(OCoLC)778885371

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