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Did fiscal consolidation cause the double dip recession in the euro area?
Heimberger, Philipp - 2015
the euro crisis. It presents new econometric estimates on the link between cumulative GDP growth and fiscal austerity … closely related to the harshness of fiscal austerity. Cumulative multiplier estimates are found to vary in a range from 1.4 to …, a reasonable approximation of the size of the output losses due to fiscal austerity in the euro area during 2011-2013 is …
Persistent link: https://www.econbiz.de/10011778844
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Learning about fiscal multipliers during the European sovereign debt crisis : evidence from a quasi-natural experiment
Gόrnicka, Lucyna; Kamps, Christophe; Koester, Gerrit; … - 2018
Identifying fiscal multipliers is usually constrained by the absence of a counterfactual scenario. Our new data set allows overcoming this problem by making use of the fact that recommendations under the EU's excessive deficit procedure (EDP) provide both a baseline no-policy-change scenario and...
Persistent link: https://www.econbiz.de/10011856496
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Government deficit shocks and Okun's coefficient volatility : new insights on the austerity versus growth debate
Binh Thai Pham; Sala, Hector - 2019
and USA in between. Policy wise, we claim that austerity policies may have unexpected adverse effects on job creation if …
Persistent link: https://www.econbiz.de/10012054782
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Fiscal consolidation by austerity and EU surveillance policies
Iancu, Aurel; Olteanu, Dan - 2015
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 …
Persistent link: https://www.econbiz.de/10011576575
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Austerity, fiscal uncertainty, and economic growth : insights from fiscally weak EU countries
Curatola, Giuliano Antonio; Donadelli, Michael; … - 2015
equilibrium model that endogenously captures the trade-off between costs and benefits of austerity measures driven by a zero …
Persistent link: https://www.econbiz.de/10012061561
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Government balance-consistent economic growth rates and their implications : a study of the Euro area countries
Pattichis, Charalambos - In: European journal of government and economics : EJGE 9 (2020) 3, pp. 220-231
Using the model derived by Bajo-Rubio (2014), this paper estimates government budget balance-consistent growth rates for the euro area countries. A comparison of these estimates to their actual growth rates indicates that most of these countries are growing at rates that are very similar to...
Persistent link: https://www.econbiz.de/10012489723
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The long-run effect of fiscal consolidation on economic growth : evidence from quantitative case studies
Kleis, Mischa; Moessinger, Marc-Daniel - 2016
We contribute to the literature on the long-run effect of fiscal consolidation on economic growth by applying a novel method for quantitative case studies. Relying on a qualitative (narrative) definition of fiscal consolidations based on an examination of historical policy documents and using...
Persistent link: https://www.econbiz.de/10011490895
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Arguments in the debate austerity versus growth in Romania
Dumitrescu, Bogdan - In: Romanian journal of fiscal policy : RJFP 6 (2015) 1, pp. 54-62
The fiscal policy response to the consequences of the financial and economic crisis consisted either in adopting expansionary policies to stimulate the aggregate demand, or in promoting fiscal consolidation programs designed to restore the sustainability of the public finances. This paper...
Persistent link: https://www.econbiz.de/10011504504
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Consolidating the Covid debt
Keuschnigg, Christian; Johs, Julian; Stevens, Jacob - 2021
One of the main functions of public debt is to smooth taxes and spending over time. In the Covid crisis, the Maastricht deficit restrictions were temporarily suspended to allow for large temporary deficits. As recovery sets in, countries are confronted with the task of consolidating the Covid...
Persistent link: https://www.econbiz.de/10012796971
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The long-run effect of fiscal consolidation on economic growth : evidence from quantitative case studies
Kleis, Mischa; Moessinger, Marc-Daniel - 2016 - This version: November 2016
We contribute to the literature on the long-run effect of fiscal consolidation on economic growth by applying a novel method for quantitative case studies. Relying on a qualitative (narrative) definition of fiscal consolidations based on an examination of historical policy documents and using...
Persistent link: https://www.econbiz.de/10011576967