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 …

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 …

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 …

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 …

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 …

The austerity programme of the coalition government knocked at least one percent per year off growth in the first two … years of this Parliament. In retrospect, this looks like a mistake and the slower pace of austerity in 2012 to 2013 and …

This paper provides a critical assessment of the austerity measures that are being implemented in the crisis … foundations for a reassessment of the policy of austerity and the implications for recovery and sustainability of economic …