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Origines et conséquences de l'austérité dans les pays périphériques de la zone Euro : une interprétation post-keynésienne de la crise des dettes souveraines

Author

Listed:
  • Sébastien Charles

    (LED - Laboratoire d'Economie Dionysien - UP8 - Université Paris 8 Vincennes-Saint-Denis)

  • Thomas Dallery

    (CLERSÉ - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille - CNRS - Centre National de la Recherche Scientifique)

Abstract

This article deals with the sustainability of public debt within the analytical scope proposed by Pasinetti, in order to determine the stability conditions of the public debt/GDP ratio. This alternative technique is used to assess austerity policies in some peripheral countries of the Eurozone, insisting on the bad diagnosis addressed about the causes of fiscal deficits. After having shown that the situation of public finances has not been involved by lax fiscal policies in those countries, we make use of Pasinetti's method to represent the noticeably dubious impact of austerity in those latter.

Suggested Citation

  • Sébastien Charles & Thomas Dallery, 2015. "Origines et conséquences de l'austérité dans les pays périphériques de la zone Euro : une interprétation post-keynésienne de la crise des dettes souveraines," Post-Print halshs-01346441, HAL.
    • Handle: RePEc:hal:journl:halshs-01346441
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