European Parliament Library

In Search of Lost Revenue :, Why Restoring Fiscal Soundness After a Crisis is Harder Than it Looks, Masato Miyazaki

Abstract
This note argues that because fiscal deficit after a crisis owe much to a drop in tax revenues and a sluggish revenue growth, its adjustment has to rely more on revenue augmentation than commonly thought. Cutting extra spending in the wake of the crisis would not balance the book, while a natural growth of tax revenue after the recovery may take a long time before financing the pre-crisis level of expenditure. Faced with unpopular choices, the government may implicitly prefer seeing higher inflation
Table Of Contents
Cover Page; Title Page; Copyright Page; Contents; Executive Summary; I Introduction; II A Simple Model to Illustrate a Fiscal Exit; III A More Realistic Model That Envisages Long Sluggish Revenue Growth; IV Application to Some Examples; V Policy Implications; VI Conclusion; Appendix; References; Footnotes
Language
eng
Literary Form
non fiction
Note
"June 2010."
Physical Description
1 online resource (36 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9786612846120

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