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Is Fiscal Austerity Good for the Economy?, No. 13-09

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Is Fiscal Austerity Good for the Economy?, No. 13-09

DATE: September 2013

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ABSTRACT: Concerns about fiscal imbalances in Europe and the United States have led to intense debates about whether governments should dramatically cut spending or increase taxes to reduce government debt—a course of action often called fiscal "austerity." But is austerity likely to hurt economic growth? That question has not been definitively answered—but even if austerity is costly in the short run, it can provide long-run benefits.

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Haltom, Renee Courtois , Lubik, Thomas A. and Federal Reserve Bank of Richmond. "Is Fiscal Austerity Good for the Economy?, No. 13-09," Economic Brief (September 2013). https://fraser.stlouisfed.org/title/6034/item/583916, accessed on May 23, 2022.

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