Expansionary Austerity : Reallocating Credit Amid Fiscal Consolidation

Expansionary Austerity : Reallocating Credit Amid Fiscal Consolidation

This paper shows expansionary fiscal austerity via reallocation of credit supply, but with a raise in poverty. For identification, the paper exploits the introduction of a Mexican law limiting the debt of subnational governments along with matched credit register, firm, bank, and state datasets...

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Bibliographic Details
Main Authors: Morais, Bernardo, Perez-Estrada, Javier, Peydró, José-Luis, Ruiz-Ortega, Claudia
Format: Working Paper
Language:English
Published: World Bank, Washington, DC 2021
Subjects:
FISCAL POLICY
GOVERNMENT LENDING
SUBNATIONAL DEBT
CROWDING OUT
EMERGING MARKET ECONOMIES
BANKS
PUBLIC DEBT
Online Access:http://documents.worldbank.org/curated/en/147941620675969963/Expansionary-Austerity-Reallocating-Credit-Amid-Fiscal-Consolidation
http://hdl.handle.net/10986/35568

Internet

http://documents.worldbank.org/curated/en/147941620675969963/Expansionary-Austerity-Reallocating-Credit-Amid-Fiscal-Consolidation
http://hdl.handle.net/10986/35568

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