This paper reviews and summarizes the literature that has concentrated on budget consolidations and their fiscal and economic effects. The issue of fiscal adjustments has again gained importance due to the recent economic crisis and the resulting fiscal imbalances. The existing literature shows...

In recent years, accounting regulation has been internationalized with the extensive use and adoption of International Financial Reporting Standards (IFRS) by nation-states, which points at least to a formal convergence between accounting regulatory systems. However, major differences between...