One thought on “Economic and Social Review: Summer 2013 issue”

  1. @ Philip Lane

    Thanks for the paper. Lots to consider there. I particularly admired the attempt to spell out what “structural reforms” might actually mean.

    Related IMF Paper:

    ‘The Distributional Effects of Fiscal Consolidation’

    Laurence Ball, Davide Furceri, Daniel Leigh, and Prakash Loungani

    “This paper examines the distributional effects of fiscal consolidation. Using episodes of fiscal consolidation for a sample of 17 OECD countries over the period 1978–2009, we find that fiscal consolidation has typically had significant distributional effects by raising inequality, decreasing wage income shares and increasing long-term unemployment. The evidence also suggests that spending-based adjustments have had, on average, larger distributional effects than tax-based adjustments.”

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