Consolidation | 0.40* |
Non-consolidation | 0.82* |
Consolidation |
 Large public employer | 0.81* |
 Small public employer | 0.20 |
Non-consolidation |
 Large public employer | 0.79* |
 Small public employer | 0.83* |
- Sample: EU countries (excluding AT, BG, CY, DE, EL, LT, LV, MT, RO, SI) over 1980–2012 (1995–2012 in the case of CZ, EE, HU, SK). Fiscal consolidations are defined as a change in the structural balance of at least 1.5% of GDP in 1 year or of at least 3% of GDP over a 3-year period, with at least 0.5% improvement in each year. For the years where structural balance data are not available in the AMECO database, the primary cyclically adjusted budget balance is used. Countries are split according to their government size on the basis of the average share of government to total employment (countries with an average value above the median are classified with a large government sector). Source: OECD Economic Outlook
- *Pearson correlation coefficients at least p < 0.05
