Name File Type Size Last Modified
  Alesina_data 10/12/2019 07:01:PM
LICENSE.txt text/plain 14.6 KB 10/12/2019 03:01:PM

Project Citation: 

Alesina, Alberto, Favero, Carlo, and Giavazzi, Francesco. Replication data for: Effects of Austerity: Expenditure- and Tax-Based Approaches. Nashville, TN: American Economic Association [publisher], 2019. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12.

Project Description

Summary:  View help for Summary We review the debate surrounding the macroeconomic effects of deficit reduction policies (austerity). The discussion about "austerity" in general has distracted commentators and policymakers from a very important result, namely the enormous difference, on average, between expenditure- and tax-based austerity plans. Spending-based austerity plans are remarkably less costly than tax-based plans. The former have on average a close to zero effect on output and lead to a reduction of the debt/GDP ratio. Tax-based plans have the opposite effect and cause large and long-lasting recessions. These results also apply to the recent episodes of European austerity, which in this respect were not especially different from previous cases.

Scope of Project

JEL Classification:  View help for JEL Classification
      E23 Macroeconomics: Production
      E32 Business Fluctuations; Cycles
      E62 Fiscal Policy
      H20 Taxation, Subsidies, and Revenue: General
      H50 National Government Expenditures and Related Policies: General
      H62 National Deficit; Surplus

Related Publications

Published Versions

Export Metadata

Report a Problem

Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.

This material is distributed exactly as it arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.