A New Action-Based Dataset of Fiscal Consolidation

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A New Action-Based Dataset of Fiscal Consolidation is written by Mr.Daniel Leigh and published by International Monetary Fund. It's available with International Standard Book Number or ISBN identification 1455264407 (ISBN 10) and 9781455264407 (ISBN 13).

This paper presents a new dataset of fiscal consolidation for 17 OECD economies during 1978-2009. We focus on discretionary changes in taxes and government spending primarily motivated by a desire to reduce the budget deficit and not by a response to prospective economic conditions. To identify the motivation and budgetary impact of the fiscal policy changes, we examine contemporaneous policy documents, including Budgets, Budget Speeches, central bank reports, Convergence and Stability Programs submitted by the authorities to the European Commission, and IMF and OECD reports. The resulting series can be used to estimate the macroeconomic effects of fiscal consolidation.