caa a22 4500 397517122 CHVBK 20180308164622.0 cr unu---uuuuu 161202e19950401xx s 000 0 eng 10.2307/1344539 doi (NATIONALLICENCE)oxford-10.2307/1344539 G-7 fiscal restructuring in the 1990s: macroeconomic effects [Elektronische Daten] [Leonardo Bartolini, Assaf Razin, Steve Symansky] Fiscal restructuring G-7 fiscal restructing in the 1990s: macroeconomic effects During the 1990s many countries are undertaking major fiscal restructuring, cutting expenditures and raising taxes. The objectives are varied, ranging from the need to stabilize public debts to increasing efficiency by reducing distortions. This paper assesses the macroeconomic effects of such measures in the case of the G-7 countries. It presents the policy measures already taken or currently planned, and analyses their effects, both locally and on partner countries. The general picture is one where fiscal restructuring initially leads to output losses followed by a recovery. In the longer run, the choice of instruments makes a significant difference. Those countries which rely primarily on expenditure cuts or indirect tax increases in their fiscal restructuring (the United Kingdom, France and Japan) are projected to enjoy output gains from their adjustment over the long run, while those countries relying mainly on labour and capital taxes (Italy, Germany and the USA) are projected to suffer output losses. — Leonardo Bartolini, AssafRazin and Steve Symansky © CEPR, CES, MSH, 1995 Original Articles nationallicence Bartolini Leonardo International Monetary Fund; Tel Aviv University, NBER and CEPR; and International Monetary Fund aut Razin Assaf International Monetary Fund; Tel Aviv University, NBER and CEPR; and International Monetary Fund aut Symansky Steve International Monetary Fund; Tel Aviv University, NBER and CEPR; and International Monetary Fund aut Economic Policy Oxford University Press 10/20(1995-04-01), 109-146 0266-4658 10:20<109 1995 10 economicpolicy https://doi.org/10.2307/1344539 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.2307/1344539 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Bartolini Leonardo International Monetary Fund; Tel Aviv University, NBER and CEPR; and International Monetary Fund aut NATIONALLICENCE 700 1- Razin Assaf International Monetary Fund; Tel Aviv University, NBER and CEPR; and International Monetary Fund aut NATIONALLICENCE 700 1- Symansky Steve International Monetary Fund; Tel Aviv University, NBER and CEPR; and International Monetary Fund aut NATIONALLICENCE 773 0- Economic Policy Oxford University Press 10/20(1995-04-01), 109-146 0266-4658 10:20<109 1995 10 economicpolicy Metadata rights reserved CC BY-NC-4.0 http://creativecommons.org/licenses/by-nc/4.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-oxford