00808pab a2200157 454500 180718b1999 xxu||||| |||| 00| 0 eng d Perotti, Roberto Fiscal policy in good times and bad 1999 p.1399-436 Nov In 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 Fiscal policy Quarterly Journal of Economics 43633 43633 43633 0 0 0 0 IIPA IIPA 2018-07-19 Volume no: 114, Issue no: 4 AR44030 2018-07-19 2018-07-19 AR