As a result of the economic crisis many countries are battling rising debt once more. Therefore political discussions about future consolidation strategies are becoming more frequent. As there is a large number of relevant studies on to fiscal adjustment, this article tries to sum up and compare...

In numerous countries the global financial and economic crisis has entailed a surge of government debt, which will call for enhanced consolidation efforts in the future. In the past consolidation strategies focusing primarily on spending cuts proved sustainable, whereas mostly revenue-based...