Replication data for: Effects of Austerity: Expenditure- and Tax-Based Approaches
Principal Investigator(s): View help for Principal Investigator(s) Alberto Alesina; Carlo Favero; Francesco Giavazzi
Version: View help for Version V1
Name | File Type | Size | Last Modified |
---|---|---|---|
Alesina_data | 10/12/2019 07:01:PM | ||
|
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. https://doi.org/10.3886/E114028V1
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
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
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.