effects of fiscal austerity for the evolution of sovereign risk spreads are demonstrated by means of panel regressions and … elaborate a link between rising sovereign risk premia in the Eurozone and a major feature of the financial crisis - which …

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 …

austerity policy also appears to have had a negative impact on productivity, neutralizing the beneficial effects of structural … reforms. Contrary to widespread opinion, the lack of structural reforms was not the key reason for the austerity policy …, mild austerity measures, and if possible, budget reallocation in favor of investment. …

, notably Nobel Prize winner and New York Times columnist Paul Krugman, who claimed that Greece suffered from austerity. Because … crisis to restore confidence and that it should be as front-loaded as is practically and politically possible. …