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The evidence suggests that the types of fiscal adjustment packages that are most likely to reduce debt are heavily weighted toward spending reductions, not tax increases. [5] One difficulty of studying the impact of large fiscal adjustments on debt and economic growth involves the definition and identification of successful and expansionary episodes. As a country becomes more competitive, productivity will increase and wages will rise with advancing development.

Pages: 246

Publisher: British Informatics Society Ltd; New edition (July 21, 2009)

ISBN: 1906124124

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