What Drives a Successful Fiscal Consolidation?∗
نویسندگان
چکیده
Fiscal consolidations are currently in the agenda of fiscal authorities in many countries. Using Bayesian model averaging to overcome the problem of model uncertainty, we find that growth-enhancing policies and cuts in public wages are the most appropriate ingredients for successfully reducing debt levels and budget deficits. JEL Codes: H30, H62.
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