Baldacci, Emanuele; Gupta, Sanjeev; Mulas-Granados, Carlos - International Monetary Fund (IMF) - 2013
This paper assesses the effects of fiscal consolidations associated with public debt reduction on medium-term output … growth during periods of private debt deleveraging. The analysis covers 107 countries and 79 episodes of public debt … a mix of revenue and expenditure measures can support output expansion, while reducing public debt. In this context …