Beschreibung:
The pace of recovery from the financial crisis is uneven across the OECD area. This article discusses the current economic situation in OECD countries and gives an overview of the consolidation efforts currently undertaken by many governments, including the Netherlands. After exploring why fiscal deficits arise and which factors are conducive to successful consolidation, the article concludes with some normative remarks on the Dutch consolidation package in the light of considerations of political economy.