NDLI: Fiscal Policy after the Great Recession

Content Provider	Springer Nature Link
Author	Alesina, Alberto
Copyright Year	2012
Abstract	The Great Recession has severely hit the economies of most of the countries. Given that, fiscal policies have gained back a central role in the debate as a tool to recover from this situation. This paper provides an overview about the main controversial issues related to the fiscal policy. In particular, we analyze the role and the different effects played by discretionary counter-cyclical policies – say, for instance, tax cuts or increased government spending. Disagreement on this topic follows from the fact that it is extremely difficult to isolate the exogenous effect of these policies on GDP. We review several ways in which economists have tried to deal with this problem of estimation. Finally, we discuss why spending-based adjustments are preferable and less likely to be costly than tax-based ones and why large fiscal consolidation accompanied by appropriate policies can be much less costly than what we think.
Starting Page	429
Ending Page	435
Page Count	7
File Format	PDF
ISSN	01974254
Journal	Atlantic Economic Journal
Volume Number	40
Issue Number	4
e-ISSN	15739678
Language	English
Publisher	Springer US
Publisher Date	2012-09-12
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Fiscal policy Fiscal multipliers Reverse causation Counter-cyclical policies Economics general Macroeconomics/Monetary Economics Microeconomics International Economics Public Finance & Economics
Content Type	Text
Resource Type	Article
Subject	Economics, Econometrics and Finance

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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