Abstract:

Public debt, Fiscal consolidation, Debt reduction, Fiscal policy, Credit restraint, Economic growth, Cross country analysis, Debt consolidation, fiscal adjustments, output growth, spending cuts, expansionary fiscal, expenditure cuts, public spending, fiscal contraction, fiscal deficit, expansionary fiscal contraction, tax rates, fiscal consolidations, budget composition, fiscal multipliers, budget constraint, tax revenues, fiscal variables, public expenditures, fiscal conditions, taxation, loose fiscal policy, fiscal contractions, fiscal imbalances, tax base, discretionary fiscal policy, fiscal reforms, government budget, expansionary fiscal contractions, government spending, debt service, f