Series: IMF Staff Position Notes
Author(s): Andrea Schaechter , and Carlo Cottarelli
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 September 2010
Keywords: Fiscal consolidation, Aging, Developed countries, Public finance, Public debt, Global Financial Crisis 2008-2009, Group of seven, Government expenditures, Tax revenues, Taxation
Today's record public debt levels in most advanced economies are not only a direct fall-out from the global crisis. Public debt had ratcheted up over many decades before, when it had been used, in most of the G-7 c...