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【IMF-2024研报-】更新的基于行动的财政整合数据集(英).pdf
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An Updated Action-based
Dataset of Fiscal
Consolidation
Gustavo Adler, Cian Allen, Giovanni Ganelli, and Daniel Leigh
WP/24/210
IMF Working Papers describe research in
progress by the author(s) and are published to
elicit comments and to encourage debate.
The views expressed in IMF Working Papers are
those of the author(s) and do not necessarily
represent the views of the IMF, its Executive Board,
or IMF management.
2024
SEP
* An earlier version of this database was used for analysis in IMF (2021) and IMF (2023).
© 2024 International Monetary Fund WP/24/210
IMF Working Paper
Western Hemisphere Department and Research Department
An Updated Action-based Dataset of Fiscal Consolidation
Prepared by Gustavo Adler, Cian Allen, Giovanni Ganelli, and Daniel Leigh*
Authorized for distribution by Jaewoo Lee and Daniel Leigh
September 2024
IMF Working Papers describe research in progress by the author(s) and are published to elicit
comments and to encourage debate. The views expressed in IMF Working Papers are those of the
author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
This paper presents a dataset of fiscal consolidation for 17 OECD economies during 1978-2020 and 14
economies in Latin America and the Caribbean during 1989-2020. We focus on discretionary changes in taxes
and government spending primarily motivated by a desire to reduce the budget deficit and not by a response to
prospective economic conditions. To identify the motivation and budgetary impact of the fiscal policy changes,
we examine contemporaneous policy documents, including central bank reports, Convergence Programmes
and Stability Programmes submitted by the authorities to the European Commission, and IMF and OECD
reports. The resulting series can be used to estimate the macroeconomic effects of fiscal consolidation.
RECOMMENDED CITATION: Adler, Gustavo, Cian Allen, Giovanni Ganelli, and Daniel Leigh. 2024. “An
Updated Action-based Dataset of Fiscal Consolidation.” IMF Working Paper No. 24/210.
JEL Classification Numbers:
E62, H20, H5, H6
Keywords:
Fiscal policy; taxation; government expenditure
Authors’ E-Mail Addresses:
gadler@imf.org; callen@imf.org; gganelli@imf.org; dleigh@imf.org
WORKING PAPERS
An Updated Action-based Dataset
of Fiscal Consolidation
Prepared by Gustavo Adler, Cian Allen, Giovanni Ganelli, Daniel Leigh
IMF WORKING PAPERS
An Updated Action-based Dataset of Fiscal Consolidation
INTERNATIONAL MONETARY FUND
2
Contents
I. Introduction ...................................................................................................................................................... 3
II. Methodology .................................................................................................................................................... 3
Motivation of Measures .................................................................................................................................. 3
Budgetary Effects ........................................................................................................................................... 4
II. 17 OECD Economies ....................................................................................................................................... 5
A. Finland .................................................................................................................................................... 6
B. France ..................................................................................................................................................... 7
C. Japan ...................................................................................................................................................... 7
D. The Netherlands .................................................................................................................................... 8
E. Spain ....................................................................................................................................................... 9
F. United Kingdom ................................................................................................................................... 10
III. 14 Economies in Latin America and the Caribbean .................................................................................. 10
A. Argentina .............................................................................................................................................. 10
B. Brazil ..................................................................................................................................................... 11
C. Colombia .............................................................................................................................................. 11
D. Ecuador ................................................................................................................................................ 11
Annex I. .............................................................................................................................................................. 13
References ......................................................................................................................................................... 17
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