TY  - JOUR
AU  - Alesina, Alberto F
AU  - Ardagna, Silvia
TI  - The design of fiscal adjustments
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 18423
PY  - 2012
Y2  - September 2012
DO  - 10.3386/w18423
UR  - http://www.nber.org/papers/w18423
L1  - http://www.nber.org/papers/w18423.pdf
N1  - Author contact info:
Alberto F. Alesina
E-Mail: *NA user is deceased

Silvia Ardagna
Global Economics
Global Investment Research
130 Peterborough Court
133 Fleet Street
London EC4A 2BB
United Kingdom
Tel: 44 (0) 20 7051 0584
E-Mail: no email available
M1  - published as Alberto Alesina, Silvia Ardagna. "The Design of Fiscal Adjustments," in Jeffrey R. Brown, editor, "Tax Policy and the Economy, Volume 27" University of Chicago Press (2013)

AB  - This paper offers three results. First, in line with the previous literature, we confirm that fiscal adjustments based mostly on the spending side are less likely to be reversed. Second, spending based fiscal adjustments have caused smaller recessions than tax based fiscal adjustments. Finally, certain combinations of policies have made it possible for spending based fiscal adjustments to be associated with growth in the economy even on impact rather than with a recession. Thus, expansionary fiscal adjustments are possible.
ER  -