Fiscal Adjustments (Wiese et al.)

Sucessful fiscal adjustments can also be achieved by raising taxes by Rasmus Wiese, Richard Jong-A-Pin and Jakob de Haan published by VOXEU (3/2018). “Empirical research concludes that austerity measures that target spending are more likely to succeed than those that target taxation. This column argues that this result arises from a methodological flaw that assumes all countries have equal variability in their budget balance…”

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