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Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | Austerity and anarchy: budget cuts and social unrest in Europe, 1919-2008 |
| Organization Unit | |
| Authors |
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| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
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| Journal Title | Journal of Comparative Economics |
| Publisher | Elsevier |
| Geographical Reach | international |
| ISSN | 0147-5967 |
| Volume | 48 |
| Number | 1 |
| Page Range | 1 - 19 |
| Date | 2020 |
| Abstract Text | Does fiscal consolidation lead to social unrest? Using cross-country evidence for the period 1919 to 2008, we examine the extent to which societies become unstable after budget cuts. We find a positive correlation between fiscal retrenchment and instability. Expenditure cuts are particularly potent in fueling protests; tax rises have only small effects. To isolate the effect of policy decisions on social unrest we exploit variation in neighboring countries’ past fiscal policies. |
| Digital Object Identifier | 10.1016/j.jce.2019.09.007 |
| Other Identification Number | merlin-id:19191 |
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| Keywords | Economics and Econometrics |