Austerity and the path of least resistance
How Fiscal Consolidations Crowd Out Long-Term Investments
Datos Bibliográficos
| ID | 6291520 |
|---|---|
| Autores | Olivier Jacques (0000-0002-3864-1773, McGill University, autor de correspondencia) |
| Año | 2021 |
| Volumen | 28 |
| Número | 4 |
| Páginas | 551-570 |
| Fecha de publicación | 2021-04-03 |
| Peer Reviewed | Sí |
| Open Access | No |
| Tipo | ARTICLE |
| Revista | Journal of European Public Policy (JOURNAL) |
| Identificadores de la revista | ISSN: 1350-1763 • E-ISSN: 1466-4429 |
| Editorial | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/13501763.2020.1737957 |
| OpenAlex | W3011208377 |
| Idioma | EN |
| Citas recibidas | 28 |
| Referencias citadas | 42 |
What policies do government prioritize when they implement austerity? I argue that governments choose the path of least resistance when they engage in fiscal consolidations. Positive policy feedback protects programmes from retrenchment when they cover large segments of the population. In contrast, policies involving discounting short-term benefits for long-term gains are more exposed to austerity as they are subject to an intertemporal trade-off. Using a compositional dependent variable analysis in 17 OECD countries from 1980 to 2014, I show that austerity, measured with the narrative approach to fiscal consolidations, is associated with a decrease in the proportion of public investment in research and development and gross fixed capital formation and an increase in health care and pensions' proportion of budgets. The budget shares of human capital investments in education, childcare and active labour market policies and of compensatory transfer-based labour market insurance are resilient to austerity
Austerity · Economic policy · Economics · Fiscal policy · Labour economics · Macroeconomics · Monetary economics · Political science · Population · Public capital · Public investment · Retrenchment · Global Health Care Issues · Housing, Finance, and Neoliberalism · Social Policy and Reform Studies
Financing investment in times of high public debt
Austerity from the Left
Attitudinal polarization towards the redistributive role of the state in the wake of the Covid-19 crisis
On the optimality of policy choices in the face of biased beliefs, retrospective voting and the down-up problem
Fiscal resilience, fiscal sustainability and social infrastructure expenditure
The Conditionality of Political Short‐Termism
How Changing Narratives About the Future Shape Policymaking for the Long Term
Do the Pandemic and the First‐Ever Universal Benefit Change Welfare Attitudes? Lessons From South Korea
Minding the time gap
BRICS Economies
Social policy, public investment or the environment? Exploring variation in individual-level preferences on long-term policies
Partisan Priorities under Fiscal Constraints in Canadian Provinces
Welfare state regimes and social policy resistance to fiscal consolidations
First things first? Austerity, political parties and the composition of public budgets in the German states
Distributing Pieces of a Pie
Damned if you, damned if you don’t
The political and fiscal determinants of public health and curative care expenditures
The constrained politics of local public investment under cooperative federalism
Three worlds of austerity
Electoral competition and the party politics of public investments
Who cares for the future? Exploring public attitudes towards the needs of future generations in Germany
Do voters' biases impede future‐oriented policy‐making
Does fiscal pressure constrain policy responsiveness? Evidence from Germany
Public opinion towards welfare state reform
Investing in the knowledge economy
Austerity and Social Spending
The politics of public health investments
Under what conditions do citizens support future-oriented welfare reforms? Public opinion and second dimension welfare politics
The Right and the Welfare State
Buying Time
Austerity
Introduction
Risk Inequality and Welfare States
Age in the Welfare State
The Generational Welfare Contract
Structural adjustment comes to Europe
Increasing conflict in times of retrenchment? Attitudes towards healthcare provision in E urope between 1996 and 2002
The Politics of Public and Private Pension Generosity in Advanced Democracies
Public demand for social investment
Public opinion on policy and budgetary trade-offs in European welfare states
Dynamic Pie
When Effect Becomes Cause
Choosing the path of austerity
The Electoral Appeal of Party Strategies in Postindustrial Societies
Equation Balance and Dynamic Political Modeling
An Easy and Accurate Regression Model for Multiparty Electoral Data
Treating Time with All Due Seriousness
Varieties of Policy Feedback Research
The politics of fiscal consolidation revisited
Fact or fiction? Welfare cuts and fiscal adjustments
The political economy of budget trade-offs
Roads to Success
Fiscal austerity and the trade-off between public investment and social spending
Age‐based self‐interest, intergenerational solidarity and the welfare state
Modeling Dynamics in Time-Series–Cross-Section Political Economy Data
Policy Making for the Long Term in Advanced Democracies
Risky Business? Welfare State Reforms and Government Support in Britain and Denmark
A Public Transformed? Welfare Reform as Policy Feedback
Updating the Party Government data set
From Austerity to Expansion? Consolidation, Budget Surpluses, and the Decline of Fiscal Capacity
Compensation or Social Investment? Revisiting the Link between Globalisation and Popular Demand for the Welfare State
| Obras citantes distintas | 28 |
|---|---|
| Citas por año | 4,67 |
| Intervalo de citas | 2020 - 2026 (7) |
| Velocidad de citación | current |
| Altamente citado | No |
| Tipos de cita | Neutras: 28 |