Showing 1 - 10 of 130
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/10011481630
The German debt brake is often regarded as a great success story, and has therefore served as a role model for the Euro area and its fiscal compact. In this paper we fundamentally criticize the debt brake. We show that (1) it suffers from serious shortcomings, and its success is far from certain...
Persistent link: https://www.econbiz.de/10010187671
This paper assesses the contribution of the European Central Bank (ECB) to Germany's ongoing economic crisis, a vicious circle of decline in which the country has become stuck since the early 1990s. It is argued that the ECB continues the Bundesbank tradition of asymmetric policymaking: the bank...
Persistent link: https://www.econbiz.de/10003229840
bottom of the income distribution during the age of austerity (2006–13). We use a parametric Lorenz curve model and Gini … cyclically adjusted primary balance (i.e., more austerity) are associated with a more unequal distribution of income driven by … of austerity measures reflects the reliance on regressive policies, and likely produces increased incentives for rent …
Persistent link: https://www.econbiz.de/10011438362
countries (e.g., members of the eurozone), austerity’s effectiveness crucially depends on its highly disputable capacity to …This paper provides a critical analysis of expansionary austerity theory (EAT). The focus is on the theoretical …/institutionalist traditions. First, it demonstrates that well-designed austerity measures hardly trigger short-run economic expansions in the …
Persistent link: https://www.econbiz.de/10011591477
This paper analyzes the trajectories of the Greek public deficit and sovereign debt over the last three decades and their connection to the political and economic environment, paying special attention to the causality between the public and the foreign deficit. The authors argue that, from 1980...
Persistent link: https://www.econbiz.de/10009773471
policies were characterized by the objective of maintaining "sound finance" and "austerity". Such monetarist principles and …
Persistent link: https://www.econbiz.de/10010385761
a vehicle to pool future eurozone public investment spending and to have it funded by proper eurozone treasury …
Persistent link: https://www.econbiz.de/10011309515
This paper reviews the performance of the euro area since the euro's launch 20 years ago. It argues that the euro crisis has exposed existential flaws in the euro regime. Intra-area divergences and the corresponding buildup of imbalances had remained unchecked prior to the crisis. As those...
Persistent link: https://www.econbiz.de/10011894027
, financial, and political arenas. Apart from the eurozone crisis and global monetary policy issues, for nearly two years all else … divergence and political and social discord across member-states. Given the scale and scope of the eurozone crisis, policy and … become more homogenized, synchronized, and directionally clear than at any time since early 2009. -- Eurozone ; Monetary …
Persistent link: https://www.econbiz.de/10009503821