This paper presents an analysis of the social impact of the economic crisis and reform programs in three Asian countries: Indonesia, Korea, and Thailand. The focus is on changes in real consumption expenditures arising from higher inflation and unemployment

This paper analyzes the experience of 99 advanced and developing economies in restoring fiscal sustainability during 1980 - 2008 after banking crises, which led to large accumulation of public debt. It finds that successful debt reductions have relied chiefly on generation of large primary...