Search results for "Fiscal consolidation"
showing 2 items of 12 documents
Fiscal consolidation and income distribution
2016
This working paper attempts to shed light on distributional effects of recent fiscal consolidation policies, mainly through the channel of in-kind public transfers. We look at the distribution of income in 16 EU countries during the recent global financial and economic crisis, and the subsequent period of fiscal consolidation. Experiences in terms of the depth of the recession and the policies implemented to deal with vary greatly across EU countries. We illustrate this diversity, and show how the crisis has accentuated the differences among EU countries, both in income levels and in inequality. The effects of the public sector on household income distribution have traditionally been measur…
Fiscal consolidation and financial reforms
2015
We use data for a panel of 17 countries over the period 1980-2005 to investigate the impact of fiscal consolidation on the likelihood of financial reforms. We show that fiscal adjustments do not boost the implementation of financial reforms. However, tax-driven fiscal consolidation programs raise the likelihood of banking sector reforms. Moreover, we find that: (i) an increase in the degree of trade openness makes countries less likely to implement financial reforms; (ii) an increase in the interest rate spreads accelerates the path of financial reforms, especially, external capital account reforms; and (iii) an improvement in the quality of political institutions strongly enhances the prob…