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Fiscal consolidation in Europe
1995The Maastricht Treaty imposes constraints on fiscal policy that will last beyond the formation of EMU. However, the fiscal requirements are determined in an ad hoc way, and do not consider the position of the countries in the business cycle, nor the medium-term planning horizons of the governments.
Michel Aglietta, Merih Uctum
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Fiscal Consolidation in Japan [PDF]
In order to maintain the stability of its financial system, Japan must control its budget deficit by continuing with a contractionary fiscal policy. Ideally, the negative effects of a tight fiscal policy should be countered with an expansionary monetary policy.
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“Fiscal Devaluation” and Fiscal Consolidation
2013Ruud de Mooij, Michael Keen
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Fiscal Consolidation and Public Debt
Journal of Economic Dynamics and ControlSakai Ando +4 more
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