The Economic and Social Consequences of Fiscal Retrenchment in Canada in the 1990s

Jim Stanford
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Jim Stanford: Economist, Canadian Auto Workers

A chapter in The Review of Economic Performance and Social Progress 2001: The Longest Decade: Canada in the 1990s, 2001, vol. 1 from Centre for the Study of Living Standards

Abstract: In this chapter, Jim Stanford agrees that measures were needed to eliminate the deficit. But he argues that Paul Martin's program spending cuts were larger than necessary and caused real pain in many areas of Canadian life. He shows that a strategy in which program spending was frozen in nominal terms, but not cut, would have produced more growth and employment and still yielded almost the same deficit by 1999 (although slightly higher debt levels) as the program-cutting path actually followed.

Keywords: Deficit; Debt; Program Spending; Expenditure; Fiscal Policy; Growth; Unemployment; Deficit Reduction; Canada (search for similar items in EconPapers)
JEL-codes: O40 O51 H50 E62 H62 (search for similar items in EconPapers)
Date: 2001
ISBN: 0-88645-190-6
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