Separating the budget’s effects on the economy from those of the economy on the budget is tricky. There are several cases – Ireland and Denmark in the 1980’s, for example – in which fiscal consolidation helped to expand the economy in the short run, as lower interest and exchange rates boosted confidence enough to stimulate demand.
分清预算对经济的影响和经济对预算的影响是很复杂的。不少例子——比如20世纪80年代的爱尔兰和丹麦——表明，财政整合在短期有助于经济扩张，因为更低的利率和汇率带来的信心提振足以刺激需求。