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Fiscal Austerity and Public Investment: Is the Possible the Enemy of the Necessary?

In most rich democracies one finds a tendency for the share in public finance that is available for discretionary spending to shrink. This is because tax revenues do not keep pace with simultaneous increases in fixed expenditures and growing pressures for fiscal consolidation. The present paper... Full description

1st Person: Streeck, Wolfgang
Additional Persons: Mertens, Daniel
Type of Publication: Paper
Published: Köln Max-Planck-Institut für Gesellschaftsforschung 2011
Series: MPIfG Discussion Paper ; Vol. 11/12
Online: Full text open access
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