It takes the average reader and 38 minutes to read Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy by Jaejoon Woo
Assuming a reading speed of 250 words per minute. Learn more
The 2007-09 Great Recession has led to an unprecedented increase in public debt in many countries, triggering substantial fiscal adjustments. What are the distributional consequences of fiscal austerity measures? This is an important policy question. This paper analyzes the effects of fiscal policies on income inequality in a panel of advanced and emerging market economies over the last three decades, complemented by a case study of selected consolidation episodes. The paper shows that fiscal consolidations are likely to raise inequality through various channels including their effects on unemployment. Spending-based consolidations tend to worsen inequality more significantly, relative to tax-based consolidations. The composition of austerity measures also matters: progressive taxation and targeted social benefits and subsidies introduced in the context of a broader decline in spending can help offset some of the adverse distributional impact of consolidation. In addition, fiscal policy can favorably influence long-term trends in both inequality and growth by promoting education and training among low- and middle-income workers.
Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy by Jaejoon Woo is 37 pages long, and a total of 9,509 words.
This makes it 12% the length of the average book. It also has 12% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes and 51 minutes to read Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy aloud.
Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy is suitable for students ages 8 and up.
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