The Permanent Effects of Fiscal Consolidations

Antonio Fatás, Lawrence H. Summers

NBER Working Paper No. 22374
Issued in June 2016, Revised in August 2016

---- Acknowledgments ----

We would like to thank the IMF research department for making available the data on 5-year forecasts for older vintages of the IMF World Economic Outlook. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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