Buiter, W., (2014) “Why fiscal sustainability matters”, 10 Ιανουαρίου.
Fiscal sustainability has become a hot topic as a result of the European sovereign debt crisis, but it matters in normal times, too. This column argues that financial sector reforms are essential to ensure fiscal sustainability in the future. Although emerging market reforms undertaken in the aftermath of the financial crises of the 1990s were beneficial, complacency is not warranted. In the US, political gridlock must be overcome to reform entitlements and the tax system. In the Eurozone, creating a sovereign debt restructuring mechanism should be a priority.
Σχετικές αναρτήσεις
- Woo, J., Bova, E., Kinda, T. and Zhang, S., (2013), “Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy: What Do the Data Say?”, IMF Working Papers Series, WP/13/195, Σεπτέμβριος.
- IMF, (2013), “Reassessing the Role and Modalities of Fiscal Policy in Advanced Economies”, IMF Policy Paper, 17 Σεπτεμβρίου.