Greece has reached a point where, under any plausible macroeconomic scenario, public debt will continue growing faster … solvency and closing the competitiveness gap. Yet we think Greece stands a better chance of accomplishing these goals from …

Greece has reached a point where, under any plausible macroeconomic scenario, public debt will continue growing faster … solvency and closing the competitiveness gap. Yet we think Greece stands a better chance of accomplishing these goals from …

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 capacity. We find that austerity serves as a tool for securing a more …

The conventional wisdom is (i) that fiscal austerity was the main culprit for the recessions experienced by many … right thing implementing fiscal austerity at the time they did, that is 2009-13. Finally we examine whether this round of …

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 capacity. We find that austerity serves as a tool for securing a …

The conventional wisdom is (i) that fiscal austerity was the main culprit for the recessions experienced by many … right thing implementing fiscal austerity at the time they did, that is 2009-13. Finally we examine whether this round of …

consolidations depend significantly on the level of private indebtedness. Austerity leads to a strong and persistent increase in …