What drives a successful fiscal consolidation?

Pablo Hernández de Cos and Enrique Moral-Benito

Applied Economics Letters, 2013, vol. 20, issue 8, 748-753

Abstract: Fiscal consolidations are currently in the agenda of fiscal authorities in many countries. Using Bayesian Model Averaging to overcome the problem of model uncertainty, we find that growth-enhancing policies and cuts in public wages are the most appropriate ingredients for successfully reducing debt levels and budget deficits.

Date: 2013
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DOI: 10.1080/13504851.2012.741672

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