Ireland has been seen as an exemplary case of successful growth-promoting fiscal retrenchment, not once but twice – first, in the fiscal consolidation undertaken in the late 1980s, which was taken as one of the classic original instances of ‘expansionary fiscal contraction’, and again now,...

The comparative study of debt and fiscal consolidation has acquired a new focus with the re-emergence of debt as a major problem consequent upon the global financial crisis. This leads us to re-evaluate the literature on fiscal consolidation that flourished during the 1980s and 1990s. We...