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Fiscal Consolidation in the Euro Area [electronic resource] : How Much Can Structural Reforms Ease the Pain? Anderson, Derek..

Author/Creator:
Anderson, Derek.
Publication:
Washington, D.C. : International Monetary Fund, 2013.
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 13/211.
IMF Working Papers; Working Paper No. 13/211.
Format/Description:
Government document
Book
1 online resource (32 p.)
Local subjects:
Employment. (search)
Euro Area. (search)
Fiscal consolidation. (search)
Fiscal policy. (search)
Fiscal reforms. (search)
Forecasting and Simulation. (search)
General equlibrium models. (search)
Institutions and Growth. (search)
International Policy Coordination and Transmission. (search)
Labor market reforms. (search)
Monetary policy. (search)
Open Economy Macroeconomics. (search)
Public Expenditures, Investment, and Finance. (search)
Structural reforms. (search)
Taxation. (search)
Unemployment. (search)
Wages. (search)
Summary:
The IMF’s Global Integrated Monetary and Fiscal model (GIMF) is used to examine the scope for structural reforms in the euro area to offset the negative impact of fiscal consolidation required to put public debt back on a sustainable path. The results suggest that structural reforms in core countries could quite reasonably be expected to offset the near term negative impact on activity arising from the required fiscal consolidation that uses a plausible mix of instruments to achieve the permanent improvement in the deficit. However, for the periphery, where the required consolidation is roughly twice as large as that required in the core, the results suggest that it would take several years before structural reforms could return the level of output back to its pre-consolidation path.
Notes:
Description based on print version record.
Contributor:
Anderson, Derek.
Hunt, Ben.
Snudden, Stephen.
Other format:
Print Version:
ISBN:
1475573871:
9781475573879
ISSN:
1018-5941
Publisher Number:
10.5089/9781475573879.001
Access Restriction:
Restricted for use by site license.
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