strong and persistent during the euro crisis. With regard to the austerity outlook, I show that, beginning in 2025, EA … expects, and that the economic and political implications of austerity may complicate the governance of a fragile EA. …

ordering these consolidation strategies by multiplier size or their welfare consequences leads to very different rankings. With …

generate optimal policies that resemble "austerity" measures. Optimal policy prescribes front-loaded fiscal consolidations and …

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 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 …

austerity may arrive just in time to deal with looming debts, and suggest that more work to understand the mechanisms behind …

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 …