A crisis of crisis management? Debates over fiscal adjustments in the European Monetary Union
In response to increasing market pressure, EMU countries embarked on a robust consolidation process in 2010 in order to reduce their fiscal deficits and sovereign debt levels. Although – relying on external help in a number of cases – they have been implementing aggressive adjustment programmes, their public debt-to-GDP ratio is unlikely to change or change very much this or next year. Consequently, a debate has evolved over the effectiveness of fiscal tightening.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bergljot Barkbu & Jesmin Rahman & Rodrigo O. ValdÃ©s, 2012. "Fostering Growth in Europe Now," IMF Staff Discussion Notes 12/07, International Monetary Fund.
- Pavlina R. Tcherneva, 2008. "Keynes's Approach to Full Employment: Aggregate or Targeted Demand?," Economics Working Paper Archive wp_542, Levy Economics Institute.
- Brender,Anton & Pisani, Florence & Gagna, Emile, 2012. "The Sovereign Debt Crisis: Placing a curb on growth," CEPS Papers 6951, Centre for European Policy Studies.
- Daniel Gros & Rainer Maurer, 2012. "Can austerity be self-defeating?," Intereconomics: Review of European Economic Policy, Springer, vol. 47(3), pages 175-184, May.
- André Sapir & Marco Buti, 1998. "Economic policy in EMU," ULB Institutional Repository 2013/8078, ULB -- Universite Libre de Bruxelles.
- Richard Koo, 2011. "The World in Balance Sheet Recession," Ensayos Económicos, Central Bank of Argentina, Economic Research Department, vol. 1(63), pages 7-39, July - Se.
When requesting a correction, please mention this item's handle: RePEc:mnb:bullet:v:7:y:2012:i:3:p:57-66. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Maja Bajcsy)
If references are entirely missing, you can add them using this form.