Measuring the Success of Fiscal Consolidations

ISEG-UTL Economics Working Paper No. 22/2011/DE/UECE

12 Pages Posted: 6 Nov 2011

See all articles by António Afonso

António Afonso

University of Lisbon - ISEG (School of Economics and Management); UECE (Research Unit on Complexity and Economics); ISEG Lisbon School of Economics and Management,Universidade de Lisboa; REM - Research in Economics and Mathematics

João Tovar Jalles

University of Lisbon; International Monetary Fund (IMF); Technical University of Lisbon (UTL) - Research Unit on Complexity and Economics (UECE)

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Date Written: November 5, 2011

Abstract

We measure the success of fiscal consolidation, with alternative definitions, based on ad-hoc quantitative approaches and on a policy-action approach. The cyclically adjusted primary balance, and the duration of the consolidation contribute for its success, and the opposite applies for revenue based consolidations.

Keywords: fiscal episodes, panel data, logit

JEL Classification: C23, E62, H50, H62

Suggested Citation

Afonso, António and Jalles, João Tovar, Measuring the Success of Fiscal Consolidations (November 5, 2011). ISEG-UTL Economics Working Paper No. 22/2011/DE/UECE, Available at SSRN: https://ssrn.com/abstract=1955172

António Afonso (Contact Author)

University of Lisbon - ISEG (School of Economics and Management) ( email )

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Lisbon, 1248-078
Portugal
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HOME PAGE: http://www.iseg.ulisboa.pt/aquila/homepage/aafonso/research

UECE (Research Unit on Complexity and Economics) ( email )

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Lisbon, 1249-078
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ISEG Lisbon School of Economics and Management,Universidade de Lisboa ( email )

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REM - Research in Economics and Mathematics ( email )

ISEG, Universidade de Lisboa
Rua Miguel Lupi, 20
Lisboa, 1249-078
Portugal

HOME PAGE: http://rem.rc.iseg.ulisboa.pt/

João Tovar Jalles

University of Lisbon ( email )

R. Branca Edmée Marques
Dept. Plant Biology
Lisboa, 1600-276
Portugal

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Technical University of Lisbon (UTL) - Research Unit on Complexity and Economics (UECE)

Rua Miguel Lupi, 20
Lisboa, 1200-781
Portugal

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