Fiscal adjustment in Latin America and the Caribbean: short-rum pain, long-run gain? published by World Bank (4/2018). “In the long run, lower fiscal deficits – and hence lower public debt burdens – would help consolidate the impressive gains achieved by the region in terms of lowering inflation, reducing poverty and inequality, and increasing long-run growth. But how much fiscal adjustment is needed? As argued in Chapter 1, this is a rather difficult question to address since the standard answer…”
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