Mauro, Paolo; Villafuerte, Mauricio - In: IMF Economic Review 61 (2013) 2, pp. 379-404
This paper analyzes large fiscal adjustment plans, defined on the basis of the envisaged reduction in the public debt or deficit, and it compares ex ante plans with ex post outcomes. The motivation for this novel approach is two-fold. First, useful lessons can be drawn not only from successes,...