Debt Retrenchment Strategies and Control of Public Spending

36 Pages Posted: 14 Feb 2012

Date Written: March 29, 2007

Abstract

Carine Bouthevillain, Laurent Paul and Jeanne Pavot observe that government debt in major developed countries has reached historically high levels for peacetime. They argue that in many countries, especially in Europe, fiscal adjustment must come from the control of public spending. The first part of the paper examines several countries that have successfully reduced deficits and points to some general features of their experiences. The second part considers public expenditure developments in EU countries and evaluates the role of spending.

Suggested Citation

Bouthevillain, Carine and Paul, Laurent and Pavot, Jeanne, Debt Retrenchment Strategies and Control of Public Spending (March 29, 2007). Available at SSRN: https://ssrn.com/abstract=2004453 or http://dx.doi.org/10.2139/ssrn.2004453

Carine Bouthevillain (Contact Author)

Banque de France ( email )

Paris
France

Laurent Paul

Banque de France ( email )

Paris
France

Jeanne Pavot

Banque de France ( email )

Paris
France

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