- Additional Authors
- Sutherland, Douglas.
- Description
- 42 p.; 21 x 29.7cm.
- Summary
- During the economic and financial crisis, fiscal positions across the OECD countries deteriorated sharply. This raises the question of what level of primary deficit would ensure long-term sustainability and what degree of consolidation is needed. The purpose of this paper is to gauge the scale of fiscal consolidation that will be needed to ensure long-term sustainability. The analysis uses so-called fiscal gaps to provide a simple metric for how much consolidation is needed under a series of different assumptions and scenarios. The aim is to highlight the scale of the problems, how they differ across countries and the uncertainties surrounding the estimates. A first set of results suggest that lower debt targets provide greater room for manoeuvre to react to shocks in the future. A second set of results shows that growth-enhancing structural reforms 
- Series Statement
- OECD Economics Department Working Papers, 1815-1973 ; no.934
- Uniform Title
- OECD Economics Department Working Papers, no.934.
- Subject
- Economics
- LCCN
- 10.1787/5k9h28p42pf1-en
- OCLC
- oecd-lib-003764
- Author
Merola, Rossana.
- Title
Fiscal Consolidation: Part 3. Long-Run Projections and Fiscal Gap Calculations [electronic resource] / Rossana Merola and Douglas Sutherland
- Imprint
Paris : OECD Publishing, 2012.
- Series
OECD Economics Department Working Papers, 1815-1973 ; no.934
OECD Economics Department Working Papers, 1815-1973 ; no.934.
- Connect to:
- Indexed Term
Economics
- Added Author
Sutherland, Douglas.
- Other Standard Identifier
10.1787/5k9h28p42pf1-en doi