{
  "title": "Modeling Optimal Fiscal Consolidation Paths in a Selection of European Countries",
  "publication": "IMF Working Papers, July 1, 2011",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/modeling-optimal-fiscal-consolidation-paths-in-a-selection-of-european-countries-25030",
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  "summary": "For a number of countries - Italy, Netherlands, the United Kingdom, Germany, Ireland, and France - this paper develops an inter-temporal model that elicits the implied country-preferences over balancing the conflicting objectives of fiscal consolidation and reduction of economic slack.",
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      "heading": "Scope and purpose",
      "content": "- Develops an inter-temporal model for a number of countries: Italy, Netherlands, the United Kingdom, Germany, Ireland, and France.\n- Elicits implied country-preferences over balancing the conflicting objectives of fiscal consolidation and reduction of economic slack."
    },
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      "heading": "Key findings",
      "content": "- The model suggests that some front-loading of adjustment is desirable, although the extent would vary by country preferences.\n- Proposed consolidations may prove to be stronger than acceptable, especially if somewhat larger than anticipated fiscal multipliers lead to a sizeable economic deceleration."
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subjects: Fiscal consolidation, Fiscal multipliers, Fiscal policy, Fiscal stance, Fiscal sustainability, Output gap, Production\n- Keywords: a number of country, associated output gaps, country circumstances, country preference, debt-GDP ratio rise, Fiscal consolidation, Fiscal multipliers, Fiscal stance, Fiscal Sustainability, France, Germany, Global, implied country-preference, Ireland, Italy, Netherlands, Output gap, sustainability gap, U.K., WP\n\n---\n\n Content in this bundle\n\n- Wp11164\n  - Wp11164 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Wp11164 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/modeling-optimal-fiscal-consolidation-paths-in-a-selection-of-european-countries-25030"
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    "Authors: Daniel S Kanda",
    "Published: July 1, 2011",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781462302208.001",
    "Develops an inter-temporal model for a number of countries: Italy, Netherlands, the United Kingdom, Germany, Ireland, and France.",
    "Elicits implied country-preferences over balancing the conflicting objectives of fiscal consolidation and reduction of economic slack.",
    "The model suggests that some front-loading of adjustment is desirable, although the extent would vary by country preferences.",
    "Proposed consolidations may prove to be stronger than acceptable, especially if somewhat larger than anticipated fiscal multipliers lead to a sizeable economic deceleration.",
    "Subjects: Fiscal consolidation, Fiscal multipliers, Fiscal policy, Fiscal stance, Fiscal sustainability, Output gap, Production",
    "Keywords: a number of country, associated output gaps, country circumstances, country preference, debt-GDP ratio rise, Fiscal consolidation, Fiscal multipliers, Fiscal stance, Fiscal Sustainability, France, Germany, Global, implied country-preference, Ireland, Italy, Netherlands, Output gap, sustainability gap, U.K., WP",
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