Public Sector Deficits in OECD Countries: Causes, Consequences and Policy Reaction

Jean-Claude Chouraqui

Chapter 1 in Public Sector Deficits in OECD Countries, 1988, pp 1-40 from Palgrave Macmillan

Abstract: Abstract Most of the OECD Member countries experienced a significant increase in their public sector deficits during the years following the first oil shock of 1973. The measures adopted shortly after, in order to bring these deficits back down to levels comparable to those observed in the past, have been only partially successful and the consequences of the second oil shock, which occurred in 1979, have contributed to aggravate the problem (see Table 1.1).

Keywords: Interest Rate; Monetary Policy; OECD Country; Fiscal Policy; Money Supply (search for similar items in EconPapers)
Date: 1988
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DOI: 10.1007/978-1-349-08952-9_1

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