Measuring the success of fiscal consolidations

António Afonso, Joao Jalles

Research output: Contribution to journalArticlepeer-review

13 Citations (Scopus)


We measure the success of fiscal consolidation, with alternative definitions, based on ad-hoc quantitative approaches and on a policy-action approach. The cyclically adjusted primary balance, and the duration of the consolidation contribute for its success, and the opposite applies for revenue-based consolidations.
Original languageEnglish
Pages (from-to)1053-1061
Number of pages9
JournalApplied Financial Economics
Issue number13
Early online date8 Feb 2012
Publication statusPublished - 2012


  • fiscal episodes
  • panel data
  • logit
  • expenditure
  • revenue


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