Self-defeating austerity?

Dawn Holland, Jonathan Portes, 1 November 2012

a

A

Is austerity – particularly the fiscal consolidation programmes currently under way in most EU countries  – self-defeating? DeLong and Summers (2012) have argued that, in current economic circumstances, the negative impact of fiscal consolidation on growth may be so great that the impact on debt-GDP ratios will be perverse, causing them to rise rather than fall.

Topics: Macroeconomic policy
Tags: Eurozone crisis, paradox of thrift, self-defeating austerity

The global imbalances and the paradox of thrift

Max Corden, 11 April 2011

Download CEPR Policy Insight No. 54 free of charge from the CEPR site here.

URL: http://www.cepr.org/pubs/PolicyInsights/CEPR_Policy_Insight_054.asp
Topics: Global crisis, International trade
Tags: exchange-rate policy, global crisis, global imbalances, paradox of thrift

Global imbalances and the paradox of thrift

Max Corden, 11 April 2011

a

A

The global imbalances are widely seen as a problem, especially by the US government and US economists. Sometimes they are even seen as a cause of the financial crisis (Suominen 2010). Yet such imbalances – i.e.

Topics: Global crisis, International trade
Tags: exchange-rate policy, global crisis, global imbalances, paradox of thrift

Vox eBooks

Events