@article{Consolidations:1651,
      recid = {1651},
      author = {Bi, Huixin and Leeper, Eric M. and Leith, Campbell},
      title = {Uncertain Fiscal Consolidations},
      address = {2013},
      pages = {1 online resource (iii, 42 pages)},
      abstract = {The paper explores the macroeconomic consequences of  fiscal consolidations whose timing and composition - either  tax- or spending-based - are uncertain. We find that the  composition of the fiscal consolidation, its duration, the  monetary policy stance, the level of government debt, and  expectations over the likelihood and composition of fiscal  consolidations all matter in determining the extent to  which a given consolidation is expansionary or successful  in stabilizing government debt. We argue that the  conditions that could render fiscal consolidation efforts  expansionary are unlikely to apply in the current economic  environment.},
      url = {http://www.oar-rao.bank-banque-canada.ca/record/1651},
      doi = {https://doi.org/10.34989/swp-2013-26},
}