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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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Austerity, cyclical adjustment and the remaining leeway for expansionary fiscal policies within the current EU fiscal framework
Truger, Achim - 2015
Fiscal policy in the Euro area is still dominated by austerity measures implemented under the institutional setting of …
Persistent link: https://www.econbiz.de/10010511177
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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 …
Persistent link: https://www.econbiz.de/10010424293
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Public expenditure multipliers in recessions : evidence from the Eurozone
Boitani, Andrea; Perdichizzi, Salvatore - 2018
During the sovereign debt crisis, many Euro countries have deployed "austerity packages" implementing structural … recession. We estimate, for the Eurozone countries, expenditure multipliers in recession and expansion using the linear …
Persistent link: https://www.econbiz.de/10011818399
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Does the Swiss Debt Brake Outperform the New European Stability and Growth Pact in Terms of Stabilising Debt and Smoothing the Business Cycle? (Die Schweizer Schuldenbremse -Nachha...
Colombier, Carsten - 2009
The Swiss debt brake is a fiscal rule at central government level which aims at stabilizing debt. However, business cycle fluctuations are also accounted for. This paper discusses criticism of the debt brake that it cannot feasibly simultaneously achieve either anti-cyclical or sustainable...
Persistent link: https://www.econbiz.de/10014214811
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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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Appropriate fiscal policy over the business cycle: Proper stimulus policies can work
Graves, Philip E. - 2010
Fiscal policy has become quite controversial in the post-Keynesian era, the debate over the Obama stimulus package being a contentious recent example. Some pundits go so far as to take the position that macroeconomic theory has failed to meaningfully progress in terms of providing useful...
Persistent link: https://www.econbiz.de/10010270872
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Appropriate fiscal policy over the business cycle : proper stimulus policies can work
Graves, Philip E. - 2010
Fiscal policy has become quite controversial in the post-Keynesian era, the debate over the Obama stimulus package being a contentious recent example. Some pundits go so far as to take the position that macroeconomic theory has failed to meaningfully progress in terms of providing useful...
Persistent link: https://www.econbiz.de/10008653412
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Forecasting and policy making
Wieland, Volker; Wolters, Maik H. - 2012
Persistent link: https://www.econbiz.de/10010394237
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Jobless Recovery is no Recovery : Prospects for the US Economy
Papadimitriou, Dimitri B. - 2011
The US economy grew reasonably fast during the last quarter of 2010, and the general expectation is that satisfactory growth will continue in 2011-12. The expansion may, indeed, continue into 2013. But with large deficits in both the government and foreign sectors, satisfactory growth in the...
Persistent link: https://www.econbiz.de/10013128529