An Updated Action-based Dataset of Fiscal Consolidation

Gustavo Adler, Cian Allen, Giovanni Ganelli and Daniel Leigh

No 2024/210, IMF Working Papers from International Monetary Fund

Abstract: This paper presents a dataset of fiscal consolidation for 17 OECD economies during 1978-2020 and 14 economies in Latin America and the Caribbean during 1989-2020. We focus on discretionary changes in taxes and government spending primarily motivated by a desire to reduce the budget deficit and not by a response to prospective economic conditions. To identify the motivation and budgetary impact of the fiscal policy changes, we examine contemporaneous policy documents, including central bank reports, Convergence Programmes and Stability Programmes submitted by the authorities to the European Commission, and IMF and OECD reports. The resulting series can be used to estimate the macroeconomic effects of fiscal consolidation.

Keywords: Fiscal policy; taxation; government expenditure; dataset of fiscal consolidation; IMF working paper No. 24/210; OECD report; consumption tax hike; fiscal consolidation plan; Fiscal consolidation; Consumption taxes; Debt reduction; Government debt management; Fiscal performance assessment; Caribbean (search for similar items in EconPapers)
Pages: 20
Date: 2024-09-27
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