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| Format: | Documento de trabajo |
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International Labour Organization
2012
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| Online Access: | https://researchrepository.ilo.org/esploro/outputs/workingPaper/Fiscal-Consolidation-Part-1-How-Much/995673156702676 |
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Table of Contents:
- Fiscal Consolidation: Part 1. How Much is Needed and How to Reduce Debt to a Prudent Level? Douglas Sutherland Peter Hoeller Rossana Merola <br>The economic and financial crisis was the catalyst for a fiscal crisis that engulfs many OECD countries. In most countries, budget deficits soared as a result of the economic slump, weaker revenues and the policy response to the crisis. Consolidating the public finances is an important challenge for many countries. Estimates of fiscal gaps suggest that substantial and sustained fiscal tightening will be needed in nearly all countries to bring debt down to prudent levels. However, given a weak global economy, implementing a large fiscal tightening could be particularly costly. OECD Economics Department Working Papers, 932, OECD 10.1787/5k9h28rhqnxt-en DOI https://doi.org/10.1787/5k9h28rhqnxt-en postedContent.workingPaper