Confronting Budget Deficits

International Monetary Fund

The phenomenon of substantial peacetime budget deficits over the past20 years has been traced to the burden of entitlements, a slowdown ineconomic productivity, and demographic and macroeconomic shifts in theindustrial countries. Though smaller and structurally different, deficitsin developing countries have also become worrisome. Most economists agreethat measures to reduce government spending are imperative, particularlythrough restructuring entitlement programs.
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About the author

Atish R. Ghosh is Assistant Professor of Economics and International Affaires at the Woodrow Wilson School of Public and International Affairs and the Department of Economics, Princeton University. He has written extensively on iseeues in internatioanl macroeconomics, including the effects of fiscal policies in the global economy, the nature of international capital flows, exchange rate determination, and monetary and fiscal policy coordination.

Paul R. Masson is Assistant Director of the European I Department of the International Monetary Fund. Before joining the Fund he worked at the Bank of Canada and the OECD. His publications include books and articles in various fields of macroeconomics and international economies, including policy coordination, currency unions and monetary and exchange rate models.

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Additional Information

International Monetary Fund
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Published on
Dec 31, 1996
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Political Science / General
Political Science / Public Policy / Social Policy
Political Science / Public Policy / Social Security
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