The employment effect of changes in the composition of fiscal consolidations
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Organización Internacional del Trabajo (OIT)
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| Natura: | Artículo científico |
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International Labour Organization
01/01/2017
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| _version_ | 1874525240550227969 |
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| author | Verónica Escudero Elva López Mourelo |
| author_facet | Verónica Escudero Elva López Mourelo Verónica Escudero Elva López Mourelo |
| contents | The employment effect of changes in the composition of fiscal consolidations Verónica Escudero Elva López Mourelo This paper assesses the magnitude and nature of fiscal consolidation policies and their impact on employment. In particular, in an attempt to address fiscal imbalances in the near term, countries have been faced with the delicate challenge of doing so without damaging recovery prospects and thus, counter to their original aim, worsening further public finances. In this regard, the paper reviews recent austerity measures adopted by governments and discusses how prolonging fiscal consolidation measures in their current form could be counterproductive for guaranteeing debt sustainability. Moreover, the article shows how poorly designed fiscal cuts - directly or indirectly affecting labour - seem to have been dampening job prospects. The paper sheds light on how fiscal and employment goals can be achieved together. More specifically, it finds that a fiscally-neutral change in the expenditure and revenue composition of fiscal consolidation can boost job creation. In this sense, the paper shows that it is imperative to find the right policy mix and recommends countries to be mindful of the nature and pace of consolidation. 10.1080/02692171.2016.1221388 DOI https://doi.org/10.1080/02692171.2016.1221388 publication.journalArticle |
| format | Artículo científico |
| id | ilo_995247594302676 |
| institution | Organización Internacional del Trabajo (OIT) |
| publishDate | 01/01/2017 |
| publisher | International Labour Organization |
| spellingShingle | The employment effect of changes in the composition of fiscal consolidations Verónica Escudero Elva López Mourelo The employment effect of changes in the composition of fiscal consolidations Verónica Escudero Elva López Mourelo This paper assesses the magnitude and nature of fiscal consolidation policies and their impact on employment. In particular, in an attempt to address fiscal imbalances in the near term, countries have been faced with the delicate challenge of doing so without damaging recovery prospects and thus, counter to their original aim, worsening further public finances. In this regard, the paper reviews recent austerity measures adopted by governments and discusses how prolonging fiscal consolidation measures in their current form could be counterproductive for guaranteeing debt sustainability. Moreover, the article shows how poorly designed fiscal cuts - directly or indirectly affecting labour - seem to have been dampening job prospects. The paper sheds light on how fiscal and employment goals can be achieved together. More specifically, it finds that a fiscally-neutral change in the expenditure and revenue composition of fiscal consolidation can boost job creation. In this sense, the paper shows that it is imperative to find the right policy mix and recommends countries to be mindful of the nature and pace of consolidation. 10.1080/02692171.2016.1221388 DOI https://doi.org/10.1080/02692171.2016.1221388 publication.journalArticle |
| title | The employment effect of changes in the composition of fiscal consolidations |
| url | https://researchrepository.ilo.org/esploro/outputs/journalArticle/The-employment-effect-of-changes-in/995247594302676 |