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to imposing fiscal austerity on crisis countries. The medium- to long-term strategy consists of internal devaluation via …
Persistent link: https://www.econbiz.de/10010464590
that the austerity imposed since 2010 has been unsuccessful in stabilizing the debt while at the same time taking a heavy … structural imbalances of the eurozone is of vital importance. …
Persistent link: https://www.econbiz.de/10011784657
established institutions enabled the United States to derail depression dynamics, while European 1930s-style austerity proved as …
Persistent link: https://www.econbiz.de/10010318632
What are the macroeconomic effects of tax adjustments in response to large public debt shocks in highly integrated economies? The answer from standard closed-economy models is deceptive, because they underestimate the elasticity of capital tax revenues and ignore crosscountry spillovers of tax...
Persistent link: https://www.econbiz.de/10011460657
The end of the great moderation has profound implications on the assessment of fiscal sustainability. The pertinent issue goes beyond the increase in stock of public debt/GDP induced by the global recession, to include the perspective that the sustainability of a given public debt/GDP depends on...
Persistent link: https://www.econbiz.de/10010287758
The end of the great moderation has profound implications on the assessment of fiscal sustainability. The pertinent issue goes beyond the obvious increase in the stock of public debt/GDP induced by the global recession, to include the neglected perspective that the vulnerabilities associated...
Persistent link: https://www.econbiz.de/10010288164
, known as austerity. In opposition to fiscal contraction measures, expansive fiscal action policies are often called for to … initiate economic recovery. But the national interests of austerity's main proponent, performed in an asymmetric … intergovernmental bargaining arena, render most of the proposed expansive action plans impossible and hence austerity is expected to …
Persistent link: https://www.econbiz.de/10011381297
Depression and World War II. The article tries to give an impression of the extraordinary degree of fiscal austerity and the …
Persistent link: https://www.econbiz.de/10010333079
This paper dwells on the Eurozone woes and addresses the origins of the transition from a fictitious boom to a painful … the future of the Eurozone that will halt the tearing of the social fabric of its member states. …
Persistent link: https://www.econbiz.de/10010368157
negative effects of austerity are about 22% less GDP and total household and government consumption and monthly wages; finally …
Persistent link: https://www.econbiz.de/10012654404