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

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