Experience with Large Fiscal Adjustments

Mark Horton, George Tsibouris, Wojciech Maliszewski and Mark Flanagan

No 2006/003, IMF Occasional Papers from International Monetary Fund

Abstract: When policymakers have little option but to consider a sizable fiscal adjustment, they are confronted by the following questions: Can a large fiscal adjustment be implemented succesfully? How is a large adjustment best designed and implemented? What will be its impact on the economy? This Occasional Paper addresses these questions by describing the experience of countries that have undertaken large fiscal adjustments in the last three decades. It provides operational guidance to policymakers by identifying preconditions, common policy approaches, and institutional arrangements underlying successful and unsuccessful adjustment episodes.

Keywords: OP; IMF staff estimate; expenditure measure; event study technique; country authorities; adjustment design; Fiscal consolidation; Fiscal stance; Africa; Global; Western Europe; Baltics; macroeconomic outcome; consolidation episode (search for similar items in EconPapers)
Pages: 51
Date: 2006-06-14
References: Add references at CitEc
Citations: View citations in EconPapers (34)

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=18309 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfops:2006/003

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Occasional Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().