A New Action-Based Dataset of Fiscal Consolidation [electronic resource] / Andrea Pescatori.
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TextSeries: IMF Working Papers; Working Paper ; No. 11/128Publication details: Washington, D.C. : International Monetary Fund, 2011Description: 1 online resource (90 p.)ISBN: 1455264407 :ISSN: 1018-5941Subject(s): Budget Deficit | Budgetary Impact | Deficit Reduction | Deficit | General | Government Expenditure | Canada | Germany | Italy | Japan | NetherlandsAdditional physical formats: Print Version:: A New Action-Based Dataset of Fiscal ConsolidationOnline resources: IMF e-Library | IMF Book Store Abstract: This paper presents a new dataset of fiscal consolidation for 17 OECD economies during 1978-2009. 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 Budgets, Budget Speeches, central bank reports, Convergence and Stability Programs 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.
This paper presents a new dataset of fiscal consolidation for 17 OECD economies during 1978-2009. 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 Budgets, Budget Speeches, central bank reports, Convergence and Stability Programs 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.
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