Austerity when it works and when it doesn't
Fiscal austerity is hugely controversial. Opponents argue that it can trigger downward growth spirals and become self-defeating. Supporters argue that budget deficits have to be tackled aggressively at all times and at all costs. In this masterful book, three of today's leading policy experts c...
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| Format: | eBook |
| Language: | English |
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Priceton
Princeton University Press,
2019.
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| Online Access: | EBSCOhost Перейти в каталог НБ ТГУ |
Table of Contents:
- Cover; Title; Copyright; Dedication; CONTENTS; Acknowledgments; 1 Introduction; Austerity; Four Contributions of This Book; The Punchline in a Nutshell; Organization of the Book; 2 Theory; Introduction; The Simple Keynesian Model; The Future; Confidence and Uncertainty; Austerity and the Business Cycle; Multiyear Plans; Incentives and the Supply Side; Accompanying Policies; Conclusions; 3 Expansionary and Recessionary Austerity up to the Financial Crisis of 2008; Introduction; Expansionary Austerity; Recessionary Austerity; Conclusions; 4 Measuring the Effects of Fiscal Policy; Introduction
- The Empirical EvidenceMultipliers during Austerity: The Early Literature; The Narrative Approach; Conclusions; 5 Fiscal Plans; Introduction; Constructing Fiscal Plans; Measuring the Effects of Fiscal Plans; Conclusions; 6 The Data; Introduction: A Broad Look at Our Data; The Data in More Detail; Other Data and Sources; Conclusions; 7 The Effects of Austerity; Introduction; Taxes versus Expenditures; The Role of Accompanying Policies; An Alternative Specification; Why Do EB and TB Plans Have Different Effects?; Conclusions; 8 European Austerity during the Great Recession; Introduction
- Europe in the Aftermath of the Financial CrisisEuropean Austerity; Evaluating European Austerity in 2010-14; The Greek Tragedy; Did Fiscal Multipliers Change after the Crisis?; Conclusions; 9 When Austerity?; Introduction; Fiscal Policy in Booms and Recessions; "How" and "When"; The "When" and the How" Together; Austerity at the Zero Lower Bound; Conclusions; 10 Austerity and Elections; Introduction; Existing Evidence; Fiscal Plans and Elections; A Few Examples; Discussion; Conclusions; 11 Conclusions; 12 The Models in Our Book: A User's Guide; Introduction
- Why Simulating Models? A Simple ExampleOur Empirical Models: An Overview; The Models Used in the Literature to Measure Multipliers; The Models in Chapter 7; Fiscal Adjustments and the Dynamics of Debt over GDP; TB versus EB Austerity in a General Equilibrium Model; Reconsidering Blanchard and Leigh (2014) in Chapter 8; The Model of "How" and "When" in Chapter 9; Who Adjusts and Who Wins: More Details on the Model for Chapter 10; Notes; References; Index