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 …

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 …

consolidation and explains why austerity is so fiercely advocated by both core and periphery governments. The main reasons for the … governments, in cooperation with the European Commission, the ECB and the IMF, based on further austerity and wage cuts aggravate … to its disintegration. Considering the debt crisis as a problem of the PIIGS (Portugal, Ireland, Italy, Greece, Spain …

fiscal multipliers does not confirm that austerity is the wrong fiscal approach but only suggests a too optimistic assessment …