The Electoral Consequences of Large Fiscal Adjustments
Published Date
Copyright 2013
ISBN 978-0-226-01844-7
This chapter considers the evidence supporting the conventional wisdom that deficit-reducing policies lead to electoral losses for fiscally conservative governments. It focuses on large fiscal adjustments, which are currently the center of attention in many Organization for Economic Cooperation and Development (OECD) countries, and shows that there is no evidence that governments which reduce budget deficits even decisively are systematically voted out of office. In some cases they are, in some (more often) they are not.
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The conventional wisdom regarding the political consequences of large reductions of budget deficits is that they are...