01816cas a2200265 a 4500 AALejournalIMF007291 230101c9999 xx r poo 0 0eng d 5.00 USD 9781455294695 1018-5941 BD-DhAAL BD-DhAAL Leigh, Daniel. Expansionary Austerity New International Evidence / Daniel Leigh, Andrea Pescatori, Jaime Guajardo. Washington, D.C. : International Monetary Fund, 2011. 1 online resource (40 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects. Mode of access: Internet Guajardo, Jaime. Pescatori, Andrea. IMF Working Papers; Working Paper ; No. 2011/158 Full text available on IMF http://elibrary.imf.org/view/journals/001/2011/158/001.2011.issue-158-en.xml IMF e-Library