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Revisiting the Latvian and Greek financial crises : the benefits of front-loading Fiscal adjustment

Åslund, Anders - 2015

This paper discusses why Greece has done so poorly in comparison with all other European Union countries since the … onslaught of the global financial crisis in 2008. To show what was wrong with its fiscal adjustment, this paper compares Greece …, notably Nobel Prize winner and New York Times columnist Paul Krugman, who claimed that Greece suffered from austerity. Because …

Persistent link: https://www.econbiz.de/10010530650

Structural reforms and fiscal adjustments : policy options for the euro area

Aarle, Bas van - In: Journal of economic policy reform 16 (2013) 4, pp. 320-335

Persistent link: https://www.econbiz.de/10010254495

Macroeconomic effects of fiscal adjustment : a tale of two approaches

Yang, Weonho; Fidrmuc, Jan; Ghosh, Sugata - 2013

We investigate the short-term effects of fiscal adjustment on economic activity in 20 OECD countries from 1970 to 2009. We compare two approaches: the traditional approach based on changes in cyclically adjusted primary balance (CAPB) and the narrative approach based on historical records....

Persistent link: https://www.econbiz.de/10010126403

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 the 'reformed' stability and growth pact, and the even stricter 'fiscal compact'. At the same time, calls for a more expansionary fiscal policy to overcome the economic crisis...

Persistent link: https://www.econbiz.de/10010424293