Fiscal Consolidation: How much, how fast and by what means?

The economic crisis has led to a surge in government deficits and pushed public indebtedness to 100% of GDP for the OECD as a whole in 2011. New research shows that bringing debt down to prudent levels will require sustained fiscal consolidation in most OECD countries.

Fiscal consolidation: How much is needed to reduce debt to a prudent level? OECD Economics Department Policy Notes, No. 11

Fiscal consolidation: How much is needed to reduce debt to a prudent level? OECD Economics Department Policy Notes, No. 11

What are the best policy instruments for fiscal consolidation? OECD Economics Department Policy Notes, No. 12

Large fiscal challenges will pre-occupy OECD governments for some time to come. The economic crisis that began in 2008 caused deficits to surge, and fiscal imbalances were swollen further by stimulus measures and bank rescue operations.

Tax reform in Norway: a focus on capital taxation

Norway’s dual income tax system achieves high levels of revenue collection and income redistribution, without overly undermining economic performance and while paying attention to environmental externalities.

Related Documents

• Economic Survey of Norway 2012

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Peer Review Report of the Republic of Korea - Combined Phase 1 + Phase 2

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Peer Review Report of Mexico - Phase 1: Legal and Regulatory Framework

This report summarises the legal and regulatory framework for transparency and exchange of information for tax purposes in Mexico.