昨日エントリで触れたAntonio Fatasとサマーズの表題の論文(原題は「The Permanent Effects of Fiscal Consolidations」)の要旨を紹介しておく*1。 The global financial crisis has permanently lowered the path of GDP in all advanced economies. At the same time, and in response to rising government debt levels, many of these countries have been engaging in fiscal consolidations that have had a negative impact on growth rates. We empirically expl