As Jonathan Ostry, one of the paper's authors, points out, the fund now appreciates that fiscal retrenchment does little to restore confidence unless there is an underlying fiscal problem.

Jonathan Ostry——计划的拟定者之一——指出IMF现在感谢这项财政削减没有带来信心的回升，除非这是一项根本性的财政问题。

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As Jonathan Ostry, one of the paper's authors, points out, the fund now appreciates that fiscal retrenchment does little to restore confidence unless there is an underlying fiscal problem.

ECONOMIST: Has the IMF changed? Or has the world?