Limiting the accumulation of public debt in democracies has always been a problem, but it has become a particularly pressing one in the last few decades.
Catenarian fiscal discipline
Hans Gersbach, 4 January 2014
Understanding Eurozone debt developments by nation
Gianluca Cafiso, 5 January 2012
Fiscal discipline looks set to start 2012 as it ended 2011: centre-stage in the Eurozone debate (Wyplosz 2011). While the fiscal compact agreed upon in December 2011 sets out new fiscal rules, many are expecting another round of emergency summits.
A fiscal union for the euro: Some lessons from history
Michael Bordo, Lars Jonung, Agnieszka Markiewicz, 21 September 2011
The current sovereign debt crisis in Europe, now threatening the existence of the euro, has revealed major faults in the design of the fiscal framework of the Eurozone. It has inspired a heated debate reflected in a steady flow of proposals concerning the proper rules and institutions for fiscal policymaking in the EU.
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
Cadot, de Melo, 16 June 2014