Investigates the impacts and consequences of budgetary reform through a comparative assessment of advanced Organisation for Economic Co-Operation and Development (OECD) democracies that have undertaken budget reforms over the years. This book traces the 'story of reform' in the respective...

The end of the great moderation has profound implications on the assessment of fiscal sustainability. The pertinent issue goes beyond the obvious increase in the stock of public debt/GDP induced by the global recession, to include the neglected perspective that the vulnerabilities associated...

In this paper, we show that, contrary to common beliefs, over the past two decades several countries were able to reduce public spending by remarkable amounts. These countries did not seem to have suffered from these large reductions either in a macroeconomic sense, or in terms of lower values...