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European economic policy of austerity and the process of substitution of loans for wages experienced by a large section of …
Persistent link: https://www.econbiz.de/10011133467
minimize regulation by local political actors, especially in the aftermath of ongoing austerity. The paper raises the issue of …
Persistent link: https://www.econbiz.de/10011070901
In recent years the global economy has been facing a very severe economic and financial crisis. The leading economies of the world are going through a period of deep recession. The aim of this article is to emphasize the causes of the current crisis as well as the measures taken to counteract...
Persistent link: https://www.econbiz.de/10011079651
-term financing problems in the Social Security and Medicare programs, have triggered a one-sided austerity-focused class war in the … public-sector austerity - severe cuts at all levels of government in spending that either supports the poor and the middle … austerity. After tracing the long-term evolution of our current deficit crisis, I show that this crisis can be resolved by …
Persistent link: https://www.econbiz.de/10011095194
Fiscal policy in the Euro area is still dominated by austerity measures implemented under the institutional setting of …
Persistent link: https://www.econbiz.de/10011098356
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 …
Persistent link: https://www.econbiz.de/10011105366
gradually replaced by imperative fiscal consolidation and austerity measures. The effectiveness of austerity programs is …, prosperity could not be restored exclusively by austerity. Accordingly, I present case studies of the three member states with …
Persistent link: https://www.econbiz.de/10011030431
policies of austerity have gained momentum. It is questionable however, that in periods of recession austerity leading to …. Germany, the largest and richest country of the Union seems to be playing a dominant role currently in urging austerity for … trouble? 2) Would the “failed” policy of austerity in depressed economies be changed by more emphasis on growth? At present …
Persistent link: https://www.econbiz.de/10011031796
This paper investigates the relevance of the No-Ponzi game condition for public debt (i.e. the public debt growth rate has to be lower than the real interest rate, a necessary assumption for Ricardian equivalence) and of the transversality condition for the GDP growth rate (i.e. the GDP growth...
Persistent link: https://www.econbiz.de/10011112700
identify the main frames of political communications of austerity in Romania, where the authorities decided in 2010 to take …Austerity has become central not only to the global economic debate but also to the debates about State or Democracy … austerity is a crisis situation and it is defined by all the elements of a crisis, including confusion and lack of …
Persistent link: https://www.econbiz.de/10011115446