Dutch paper contradicts ‘conventional view’ on fiscal adjustments
Working paper compares revenues increases with spending cuts
Tax increases could plausibly play just as an important role in bringing about a successful fiscal adjustment as spending cuts, according to a working paper published by the Netherlands Bank.
In Are expenditure cuts the only effective way to achieve successful fiscal adjustment? Rasmus Wiese, Richard Jong-A-Pin and Jakob de Haan note that how policy-makers should "get their fiscal house in order" is an important issue.
The authors find several papers concluding successful adjustments rely on
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