An Updated Action-based Dataset of Fiscal Consolidation

Download or read book An Updated Action-based Dataset of Fiscal Consolidation written by Gustavo Adler and published by International Monetary Fund. This book was released on 2024-09-27 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a dataset of fiscal consolidation for 17 OECD economies during 1978-2020 and 14 economies in Latin America and the Caribbean during 1989-2020. We focus on discretionary changes in taxes and government spending primarily motivated by a desire to reduce the budget deficit and not by a response to prospective economic conditions. To identify the motivation and budgetary impact of the fiscal policy changes, we examine contemporaneous policy documents, including central bank reports, Convergence Programmes and Stability Programmes submitted by the authorities to the European Commission, and IMF and OECD reports. The resulting series can be used to estimate the macroeconomic effects of fiscal consolidation.