, sovereign yield spreads are high. Is austerity successful in bringing about a reduction in yield spreads? We employ a new panel …Policy makers often implement austerity measures when the sustainability of public finances is in doubt and, hence … government consumption on yield spreads and economic activity. The conditions under which austerity takes place are crucial …

sovereign default premia, government consumption, and output. We find that whether austerity pays off depends on a) initial … premia in benign times. These findings pertain to the short run. Austerity always pays off in the long run, but particularly …

those multipliers to the amount of austerity measures implemented in years 2011-14, the paper evaluates their possible …

We examine the sustainability of public finances and its determinants for 19 Eurozone countries from 1995 to 2020. We … conclude for the existence of panel cointegration between government revenues and expenditures; primary government balance and …

those multipliers to the amount of austerity measures implemented in years 2011-14, the paper evaluates their possible …

at risk Eurozone' financial stability. In this paper, we estimate a Panel VAR (PVAR) model on the EMU area employing …

I analyze the impact of austerity on sovereign spreads. To do so I propose a model with strategic sovereign default and … implications of the model and find that austerity can be self-defeating only when austerity packages are persistent and the economy … estimate the size and impact of fiscal policy shocks associated with austerity policies. I use the model to predict what would …

effects of fiscal austerity for the evolution of sovereign risk spreads are demonstrated by means of panel regressions and … elaborate a link between rising sovereign risk premia in the Eurozone and a major feature of the financial crisis - which …