The austerity question: ‘How’ is as important as ‘how much’

Alberto Alesina, Francesco Giavazzi, 3 April 2012

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The European debate on fiscal austerity has gone astray – focusing exclusively on the size of deficit reductions. What policy makers should really be focusing on is the budget tightening’s composition (tax versus spending) and on the accompanying policies.

Topics: Macroeconomic policy
Tags: Eurozone crisis, fiscal austerity, Has Austerity Gone Too Far

The "Austerity Myth": Gain without pain?

Roberto Perotti, 14 November 2011

Vox readers can download CEPR Discussion Paper 8658 for free here. To learn more about subscribing to CEPR's Discussion Paper Series, please visit the CEPR pressoffice@cepr.org. To learn more about subscribing to CEPR's Discussion Paper Series, please visit the CEPR website.

URL: http://www.cepr.org/DP8658
Topics: EU policies, Europe's nations and regions, Macroeconomic policy
Tags: budget cuts, Eurozone crisis, fiscal austerity, fiscal consolidation, growth

Germany spending is not the cure

Alberto Alesina, Roberto Perotti, 17 June 2010

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A widely held view in Europe goes more or less as follows. After the shock of reunification, Germany has sought to enhance competitiveness through a variety of means. The policy was remarkably successful, turning the “sick man of Europe” into a highly competitive economy. One implication, however, was an imbalance with the rest of Europe.

Topics: EU institutions
Tags: Eurozone rescue, fiscal austerity, Germany, Keynesianism

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