00757pab a2200133 454500008004000000100002100040245004000061260000900101300001500110362000800125520043700133650001800570773003500588180718b1999   xxu||||| |||| 00| 0 eng d  aPerotti, Roberto  aFiscal policy in good times and bad  c1999  ap.1399-436  aNov  aIn the 1980s several countries with large government debt or deficit implemented substantial, and in some cases drastic deficit cuts. Contrary to widespread expectations, in many cases private consumption boomed rather than contracted. This paper shows that in times of "fiscal stress" shocks to government revenues and, especially, expenditure have very different effects on private consumption than in "normal" times. - Reproduced  aFiscal policy  aQuarterly Journal of Economics