01756cas a2200253 a 4500 AALejournalIMF011885 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475503913 1018-5941 BD-DhAAL BD-DhAAL Jaramillo, Laura. Walking Hand in Hand : Fiscal Policy and Growth in Advanced Economies / Laura Jaramillo, Carlo Cottarelli. Washington, D.C. : International Monetary Fund, 2012. 1 online resource (29 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 Implementation of fiscal consolidation by advanced economies in coming years needs to take into account the short and long-run interactions between economic growth and fiscal policy. Many countries must reduce high public debt to GDP ratios that penalize longterm growth. However, fiscal adjustment is likely to hurt growth in the short run, delaying improvements in fiscal indicators, including deficits, debt, and financing costs. Revenue and expenditure policies are also critical in affecting productivity and employment growth. This paper discusses the complex relationships between fiscal policy and growth both in the short and in the long run. Mode of access: Internet Cottarelli, Carlo. IMF Working Papers; Working Paper ; No. 2012/137 Full text available on IMF http://elibrary.imf.org/view/journals/001/2012/137/001.2012.issue-137-en.xml IMF e-Library