IDEAS home Printed from https://ideas.repec.org/p/unl/unlfep/wp620.html
   My bibliography  Save this paper

The peculiar first semester of 2012

Author

Listed:
  • Antonio S. Pinto Barbosa
  • Luis Catela Nunes

Abstract

Portugal was subjected in 2011 to one of the most stringent austerity packages implemented during the crisis, a package known as the troika program. The interpretation of the effects of this program gave space to a vivid confrontation between two opposing views. The Keynesian view stressed the contractionary effect on the economy and is well documented in the data that show a deterioration in the basic macro indicators. We believe, however, that the austerity package might have simultaneously provided an important and less often acknowledged ingredient to the recovery of the economy, namely an increase in the investors' confidence as expressed by a sustained decline in the yields in financial markets. This German view seems, therefore and to some extent, also present in the portuguese macro adjustment.

Suggested Citation

  • Antonio S. Pinto Barbosa & Luis Catela Nunes, 2018. "The peculiar first semester of 2012," Nova SBE Working Paper Series wp620, Universidade Nova de Lisboa, Nova School of Business and Economics.
  • Handle: RePEc:unl:unlfep:wp620
    as

    Download full text from publisher

    File URL: https://run.unl.pt/bitstream/10362/32701/1/WP620.pdf
    Download Restriction: no
    ---><---

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:unl:unlfep:wp620. 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: . General contact details of provider: https://edirc.repec.org/data/feunlpt.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Susana Lopes (email available below). General contact details of provider: https://edirc.repec.org/data/feunlpt.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.