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Experience with Large Fiscal Adjustments
- I Overview
- II Introduction
- III What Is a “Large” Fiscal Adjustment?
- IV What Sustains a Large Fiscal Adjustment?
- V Macroeconomic Impact of Large Fiscal Adjustments
- VI Conclusions
- Appendix I Data and Definitions
- Appendix II Large Fiscal Adjustment Episodes
- Appendix III Case Studies of Large Fiscal Adjustment
- Appendix IV Econometric Methodology
- Appendix V Macroeconomic Impact of Fiscal Adjustment