Afonso, António (contributor); … - 2005
and related literature 8
2.1. Different macroeconomic effects of
consolidations 9
2.2. Literature review on the effects … tax increases will have to be reversed, e.g. due to
their adverse impact on economic incentives. By contrast, expenditure ….9 60.8
FI -2.3 44.8
SE 0.6 51.6
UK -2.8 40.4
Source: Economic Forecasts – autumn 2004, European Commission …