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dc.contributor.authorBi, Huixin
dc.contributor.authorLeeper, Eric M.
dc.contributor.authorLeith, Campbell
dc.description.abstractThe paper explores the macroeconomic consequences of fiscal consolidations whose timing and composition are uncertain. Drawing on the evidence in Alesina and Ardagna (2010), we emphasize whether or not the fiscal consolidation is driven by tax rises or expenditure cuts. We find that the composition of the fiscal consolidation, its duration, the monetary policy stance, the level of government debt and expectations over the likelihood and composition of fiscal consolidations all matter in determining the extent to which a given consolidation is expansionary and/or successful in stabilizing government debt.en_US
dc.publisherUniversity of Glasgowen_US
dc.publisherIndiana Universityen_US
dc.publisherMonash Universityen_US
dc.publisherBank of Canadaen_US
dc.relation.ispartofseriesSIRE DISCUSSION PAPER;SIRE-DP-2012-09
dc.subjectgovernment debten_US
dc.subjectbudget reformen_US
dc.subjectmonetary-fiscal policy interactionsen_US
dc.titleUncertain Fiscal Consolidationsen_US
dc.typeWorking Paperen_US

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