Greece has reached a point where, under any plausible macroeconomic scenario, public debt will continue growing faster … solvency and closing the competitiveness gap. Yet we think Greece stands a better chance of accomplishing these goals from …

threshold behaviour for the GIPS, that only correct "large" unbalances, which, in the case of Greece and Portugal, are higher …

We shed light on the function, properties and optimal size of austerity using the standard sovereign debt model … augmented to include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the … level desired by a country and supported by its repayment capacity. We find that austerity serves as a tool for securing a …

periods of turmoil, financial markets have tended to impose strong programs of austerity on member countries of the Eurozone …-induced austerity, as it occurs mainly during periods of recession, has the effect of reducing the power of the automatic stabilizers in …

We present new evidence showing that fiscal austerity strengthens support for redistribution, especially for the … temporal variation in spending cuts at the Local Authority level to compute a plausibly exogenous measure of the austerity …

Scholars have been active in investigating causes and consequences of austerity policies. We examine how economists use … the term "austerity" in scientific studies and measure austerity in empirical analyses. The sample includes around 3 … austerity is often used in heterodox journals. Papers published in mainstream journals use the term "fiscal consolidation …