HEYLEN, F.; HOEBEECK, A.; BUYSE, T. - Faculteit Economie en Bedrijfskunde, Universiteit Gent - 2011
We study the evolution of the public debt to GDP ratio during 40 fiscal consolidation episodes in 21 OECD countries in 1980-2008. We test within a multivariate regression framework seven hypotheses put forward in the literature on the success or failure of consolidation programmes. These...