to imposing fiscal austerity on crisis countries. The medium- to long-term strategy consists of internal devaluation via …

Europe's debt crisis casts doubt on the effectiveness of fiscal austerity in highly-integrated economies. Closed …

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 …

instrument within European macroeconomic policies: Recent experiences with austerity policies, new research regarding the size of … proposes the introduction of the traditional public finance golden rule into the EU/Eurozone fiscal framework (Stability and … assessments: Would a golden rule have prevented the austerity crisis since 2010? Would other expenditure categories - particularly …

Fiscal policy in the Euro area is still dominated by austerity measures implemented under the institutional setting of …

Fiscal policy in the Euro area is still dominated by austerity measures implemented under the institutional setting of …

Austerity measures are frequently enacted when the sustainability of public finances is in doubt. Such doubts are … reflected in high sovereign yield spreads and put further strain on government finances. Is austerity successful in restoring … economic activity. The conditions under which austerity takes place are crucial. During times of fiscal stress, spreads rise in …

, known as austerity. In opposition to fiscal contraction measures, expansive fiscal action policies are often called for to … initiate economic recovery. But the national interests of austerity's main proponent, performed in an asymmetric … intergovernmental bargaining arena, render most of the proposed expansive action plans impossible and hence austerity is expected to …