fiscal multipliers does not confirm that austerity is the wrong fiscal approach but only suggests a too optimistic assessment …

ratio will be inversely related to the growth rate, and (iii) austerity policies - reductions in government consumption and …

fiscal multipliers does not confirm that austerity is the wrong fiscal approach but only suggests a too optimistic assessment …

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 …

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 …

We shed light on the function, properties and optimal size of austerity using the standard sovereign 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 more …