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Austerity : When It Works and When It Doesn't /
Fiscal austerity is hugely controversial. Opponents argue that it can trigger downward growth spirals and become self-defeating. Supporters argue that budget deficits have to be tackled aggressively at all times and at all costs. In this masterful book, three of today's leading policy experts c...
| Autores principales: | , , |
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| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Priceton :
Princeton University Press,
[2019]
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| Colección: | Book collections on Project MUSE.
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| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- Introduction. Austerity ; Four contributions of this book ; The punchline in a nutshell
- Theory. The simple Keynesian model ; The future ; Confidence and uncertainty ; Austerity and the business cycle ; Multiyear plans ; Incentives and the supply side ; Accompanying policies
- Expansionary and recessionary austerity up to the financial crisis of 2008. Expansionary austerity ; Recessionary austerity
- Measuring the effects of fiscal policy. The empirical evidence ; Multipliers during austerity: the early literature ; The narrative approach
- Fiscal plans. Constructing fiscal plans ; Measuring the effects of fiscal plans
- The data. Introduction: A broad look at our data ; The data in more detail ; Other data and sources
- The effects of austerity. Taxes versus expenditures ; The role of accompanying policies ; An alternative specification ; Why do EB and TB plans have different effects?
- 8 European austerity during the great recession. Europe in the aftermath of the financial crisis
- European austerity ; Evaluating European austerity in 2010-14 ; The Greek tragedy ; Did fiscal multipliers change after the crisis?
- When austerity? Fiscal policy in booms and recessions ; "How" and "when" ; The "when" and the how " together ; Austerity at the zero lower bound
- Austerity and elections. Existing evidence ; Fiscal plans and elections ; A few examples
- The models in our book: a user's guide. Why simulating models? a simple example ; Our empirical models: an overview ; The models used in the literature to measure multipliers ; The models in Chapter 7 ; Fiscal adjustments and the dynamics of debt over GDP ; TB versus EB austerity in a general equilibrium model
- Reconsidering Blanchard and Leigh (2014) in chapter 8 ; The model of "How" and "when" in chapter 9 ; Who adjusts and who wins: more details on the model for chapter 10.