ANTÓNIO AFONSO AND LUDGER SCHUKNECHT
PFM, Vol. 8 No. 3, (2008)
The papers in this symposium address fiscal sustainability within the context of aging related fiscal costs and argue that macroeconomic and political costs of delaying fiscal adjustments can be significant. The authors also analyse consolidation and reform programmes and confirm the importance of comprehensive fiscal consolidation programs that focus on recurrent public expenditure and growth incentives. A consensus seems to be firming up that fiscal rules help to contain deficit biases in fiscal policy and the proper functioning of EMU.
Subscribers: Login to read this article
Guests: Subscribe to PFM, or purchase individual article access for $10.
The article is not available for automatic download. We will email the article to you as a PDF file upon receiving your payment, typically within 24 hours.