This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the social and political costs of a GREXIT, but also of a continuing austerity policy. It proposes a reform policy fostering growth in Greece and discusses the role of conditionality....

The Italian Great Recession has a double-dip pattern. After the start of the global financial crisis, Italy experienced a second serious recession in 2011 because of the sovereign debt crisis. The reaction of Italian governments was mild at the beginning and more convinced since the start of the...

Policymakers must do something to slow the growing debt burden or else face a major fiscal meltdown. Proposals such as Medicare for All and the Green New Deal would only make the looming fiscal crisis worse

Chapter 1. introduction -- Chapter 2. The German Hyperinflation of 1923 -- Chapter 3. Macroeconomic Developments from the End of theof the 1960s to the early 1980s -- Chapter 4. The Inflation Wave from the Late 1960s onward -- Chapter 5. Comparison of developments in the various countries --...

This paper evaluates policy alternatives to achieve permanent fiscal consolidation in Hungary, based on a general equilibrium calibration. The main finding is that the composition of the consolidation, as determined by the mix of revenue and expenditure measures, has important implications for...

As a result of the secession of South Sudan, Sudan has experienced the largest increases in the budget deficit, shortages of hard currencies, highest inflation rates, and debt accumulation. In this paper, we attempt to extend and contribute to prior research on the impacts of fiscal policies on...