The art of political survival in fiscal consolidation

Zbig and I have written an article on how German governments tried to avoid the electoral consequences of fiscal consolidation. We show that consolidation is electorally risky, and that governments either tried to dodge the bullet or tried to frame their policies in a way least harmful for them. We conclude that if fiscal consolidation is risky in a country hailed for its culture of monetary stability and fiscal prudence then problems are arguably much larger for governments in other countries.

Here is an ungated Kemmerling_Truchlewski 2015 fc draft version.

For the entire edited volume see here, or here.


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