The Dutch fiscal consolidation package in a comparative perspective

Geus, Aart de; Kraan, Dirk-Jan

doi:10.1787/budget-12-5k9czxkk13lr

OECD Journal on Budgeting

2012

DOI: 10.1787/budget-12-5k9czxkk13lr

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The Dutch fiscal consolidation package in a comparative perspective

Aart de Geus

Dirk-Jan Kraan²

Abstract: This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area.

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Cited by 2 publications

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Successful Concepts of Post-Crisis Public Debt Reduction Policy

Ochotnický¹,

Jankech²

2020

Politicka ekonomie

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Successful Concepts of Post-Crisis Public Debt Reduction Policy The paper analyses episodes of successful reduction of public debt in OECD countries. From 2008 to 2018, we identify 19 episodes of fiscal consolidation, of which five resulted in a significant debt reduction. The most successful post-crisis concept is extensive, long-term consolidations and consolidations started with excessive initial debt. Spending cut consolidations have not been significantly more successful than the tax increase approach. After the inclusion of projections for 2019 and 2020, we identified 18 episodes of significant debt reduction, of which nine were associated with previous fiscal consolidation and nine were not. In the years after successful consolidation, the primary balance surpluses were more effective in debt reduction than the macroeconomic environment. Economic growth and interest rates in the significant debt reduction episodes associated with previous consolidation were lower than those without that connection. Countries which have achieved significant debt reduction without previous consolidation have done so primarily by better macro development and profited from a lower level of indebtedness.

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Successful Concepts of Post-Crisis Public Debt Reduction Policy

Ochotnický¹,

Jankech²

2020

Politicka ekonomie

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Forced Fiscal Regulation: Impact Factors and Efficiency

Butmalai,

Săracu,

Susanu

et al. 2024

Valahian Journal of Economic Studies

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Tax regulation issues have been the focus since the COVID-19 crisis and the subsequent EU energy crisis. From the Keynesian approach, the expansionary fiscal policy of states can contribute to stimulating aggregate demand and, as a consequence, economic growth, on the other hand, the post-crisis macroeconomic policy trend has become fiscal compression (budget consolidation), corresponding to the neoliberal paradigm. This policy has been actively promoted by the supranational institutions of EU, which, with the help of various instruments of fiscal regulation, have effectively imposed budgetary consolidation on member countries. Considering that the European Commission continues to urge countries to better the sustainability of their public finances and believes that the situation with the tax system is only safe in some EU countries, while in others, it finds significant imbalances, exceptionally high levels of public debt, which need to be corrected by the Stability and Growth Pact mechanisms, the relevance of this study is beyond doubt.

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The Dutch fiscal consolidation package in a comparative perspective

Abstract: This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area.

Cited by 2 publications

References 10 publications

Successful Concepts of Post-Crisis Public Debt Reduction Policy

Successful Concepts of Post-Crisis Public Debt Reduction Policy

Forced Fiscal Regulation: Impact Factors and Efficiency

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