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Revisiting the Latvian and Greek financial crises : the benefits of front-loading Fiscal adjustment
Åslund, Anders - 2015
This paper discusses why Greece has done so poorly in comparison with all other European Union countries since the … onslaught of the global financial crisis in 2008. To show what was wrong with its fiscal adjustment, this paper compares Greece …, notably Nobel Prize winner and New York Times columnist Paul Krugman, who claimed that Greece suffered from austerity. Because …
Persistent link: https://www.econbiz.de/10010530650
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The Greek sovereign debt : are there really any options?
Papanikos, Grēgorēs Th. - In: Romanian journal of fiscal policy : RJFP 5 (2014) 2, pp. 1-25
Debt Overhang is a controversial issue in the eurozone countries and is considered as one of the factors which created the current economic crisis. How to deal with sovereign debt has been debated both at the theoretical and policy making level. This paper looks at the Greek debt and four...
Persistent link: https://www.econbiz.de/10010492731
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Fiscal Adjustment and Debt Sustainability : Greece 2010-2016 and Beyond
Karavitis, Nicholas E. - 2022
This paper reviews the fiscal developments that led Greece from a successful convergence process and the adoption of …
Persistent link: https://www.econbiz.de/10014078158
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Austerity, cyclical adjustment and the remaining leeway for expansionary fiscal policies in the Euro area
Truger, Achim - 2014
Fiscal policy in the Euro area is still dominated by austerity measures implemented under the institutional setting of the 'reformed' stability and growth pact, and the even stricter 'fiscal compact'. At the same time, calls for a more expansionary fiscal policy to overcome the economic crisis...
Persistent link: https://www.econbiz.de/10010424293
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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 conundrum of Greece and the eurozone : puzzles, paradoxes and contradictions
Kitromilides, Yiannis - In: Panoeconomicus 63 (2016) 2, pp. 175-194
Persistent link: https://www.econbiz.de/10011550857
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The mixed success of EU-IMF adjustment programs in Europe - why Greece was different
Riedl, Aleksandra; Silgoner, Maria Antoinette; … - In: Focus on European economic integration (2015) 4, pp. 52-70
Persistent link: https://www.econbiz.de/10011414555
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Austerity
Dellas, Harris - 2014
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...
Persistent link: https://www.econbiz.de/10013043183
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Austerity
Dellas, Harris - 2015
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...
Persistent link: https://www.econbiz.de/10013030311
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Revisiting the Latvian and Greek Financial Crises : The Benefits of Front-Loading Fiscal Adjustment
Aslund, Anders - 2015
This paper discusses why Greece has done so poorly in comparison with all other European Union countries since the … onslaught of the global financial crisis in 2008. To show what was wrong with its fiscal adjustment, this paper compares Greece …, notably Nobel Prize winner and New York Times columnist Paul Krugman, who claimed that Greece suffered from austerity. Because …
Persistent link: https://www.econbiz.de/10013019215