closely related to the harshness of fiscal austerity. Cumulative multiplier estimates are found to vary in a range from 1.4 to … the euro crisis. It presents new econometric estimates on the link between cumulative GDP growth and fiscal austerity … 2.1, depending on the data source used to identify the intensity of fiscal consolidation. Given these multiplier values …

This policy brief reexamines the effects of the Greek austerity experiment on its economy via a counterfactual analysis … consolidation measures that have been implemented in Greece between 2010 and 2014. We estimate that austerity explains almost the … entire collapse of Greek GDP after 2009. This result suggests that-ceteris paribus-, in the absence of austerity, the Greek …

This paper provides evidence that austerity shocks have long-run negative effects on GDP. Besides addressing the … reweighting in a local projections setup to account for the potential endogeneity of austerity policies and the non-linearity of … contractions larger than 3%. Evidence is also found linking austerity with smaller capital stock in the long-run. The results are …

After a brief introduction dealing with critical opinions of some economists on the European austerity policy, the … authors point out that austerity as a means of achieving fiscal consolidation and financial stability is applied when the … fiscal domain is weak. After analyzing the effects of the 2009 crisis on some indicators and austerity measures taken by …