Expansionary Austerity New International Evidence

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Expansionary Austerity New International Evidence

Mr.Daniel Leigh,Mr.Andrea Pescatori,Mr.Jaime Guajardo
Expansionary Austerity New International Evidence Book PDF

Author : Mr.Daniel Leigh,Mr.Andrea Pescatori,Mr.Jaime Guajardo
Publisher : International Monetary Fund
Page : 41 pages
File Size : 54,5 Mb
Release : 2011-07-01
Category : Business & Economics
ISBN : 9781455294695

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Expansionary Austerity New International Evidence by Mr.Daniel Leigh,Mr.Andrea Pescatori,Mr.Jaime Guajardo Pdf

This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects.

Austerity

Alberto Alesina,Carlo Favero,Francesco Giavazzi
Austerity Book PDF

Author : Alberto Alesina,Carlo Favero,Francesco Giavazzi
Publisher : Princeton University Press
Page : 290 pages
File Size : 44,5 Mb
Release : 2020-12
Category : Business & Economics
ISBN : 9780691208633

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Austerity by Alberto Alesina,Carlo Favero,Francesco Giavazzi Pdf

A revealing look at austerity measures that succeed—and those that don'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. Bringing needed clarity to one of today's most challenging economic issues, three leading policy experts cut through the political noise to demonstrate that there is not one type of austerity but many. Austerity assesses the relative effectiveness of tax increases and spending cuts at reducing debt, shows that austerity is not necessarily the kiss of death for political careers as is often believed, and charts a sensible approach based on data analysis rather than ideology.

Austerity

Mark Blyth
Austerity Book PDF

Author : Mark Blyth
Publisher : Oxford University Press
Page : 304 pages
File Size : 52,9 Mb
Release : 2013-03-27
Category : Political Science
ISBN : 9780199939091

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Austerity by Mark Blyth Pdf

Selected as a Financial Times Best Book of 2013 Governments today in both Europe and the United States have succeeded in casting government spending as reckless wastefulness that has made the economy worse. In contrast, they have advanced a policy of draconian budget cuts--austerity--to solve the financial crisis. We are told that we have all lived beyond our means and now need to tighten our belts. This view conveniently forgets where all that debt came from. Not from an orgy of government spending, but as the direct result of bailing out, recapitalizing, and adding liquidity to the broken banking system. Through these actions private debt was rechristened as government debt while those responsible for generating it walked away scot free, placing the blame on the state, and the burden on the taxpayer. That burden now takes the form of a global turn to austerity, the policy of reducing domestic wages and prices to restore competitiveness and balance the budget. The problem, according to political economist Mark Blyth, is that austerity is a very dangerous idea. First of all, it doesn't work. As the past four years and countless historical examples from the last 100 years show, while it makes sense for any one state to try and cut its way to growth, it simply cannot work when all states try it simultaneously: all we do is shrink the economy. In the worst case, austerity policies worsened the Great Depression and created the conditions for seizures of power by the forces responsible for the Second World War: the Nazis and the Japanese military establishment. As Blyth amply demonstrates, the arguments for austerity are tenuous and the evidence thin. Rather than expanding growth and opportunity, the repeated revival of this dead economic idea has almost always led to low growth along with increases in wealth and income inequality. Austerity demolishes the conventional wisdom, marshaling an army of facts to demand that we austerity for what it is, and what it costs us.

Fiscal Adjustments in OECD Countries

Mr.Alberto Alesina,Mr.Roberto Perotti
Fiscal Adjustments in OECD Countries Book PDF

Author : Mr.Alberto Alesina,Mr.Roberto Perotti
Publisher : International Monetary Fund
Page : 52 pages
File Size : 52,9 Mb
Release : 1996-07-01
Category : Business & Economics
ISBN : 9781451960433

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Fiscal Adjustments in OECD Countries by Mr.Alberto Alesina,Mr.Roberto Perotti Pdf

This paper studies how the composition of fiscal adjustments influences their likelihood of “success”, defined as a long lasting deficit reduction, and their macroeconomic consequences. We find that fiscal adjustments which rely primarily on spending cuts on transfers and the government wage bill have a better chance of being successful and are expansionary. On the contrary fiscal adjustments which rely primarily on tax increases and cuts in public investment tend not to last and are contractionary. We discuss alterative explanations for these findings by studying both a full sample of OECD countries and by focusing on three case studies: Denmark, Ireland and Italy.

The Rise and Fall of Global Austerity

E Ray Canterbery
The Rise and Fall of Global Austerity Book PDF

Author : E Ray Canterbery
Publisher : World Scientific
Page : 312 pages
File Size : 45,9 Mb
Release : 2014-12-15
Category : Business & Economics
ISBN : 9789814603508

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The Rise and Fall of Global Austerity by E Ray Canterbery Pdf

Since its onset in late 2007, few expected the Great Recession to be protracted for over half a decade across the world. The Rise and Fall of Global Austerity explains the origins and history of austerity, severe implications of the idea of it and how the continuation of the Great Recession was a by-product of austerity measures. Covering austerity policies that are in place in the United States, Europe, and other countries, E Ray Canterbery explains why austerity is detrimental for economies, economic policy and the general health of populations around the world. He highlights the connection between public debt and austerity policies and shows how the austerity lobby works in the United States to achieve its goals. Besides presenting a critique of the rationale for austerity, Canterbery also recommends monetary, fiscal, and incomes policy remedies, and stresses why economic growth and full employment are more ideal and pragmatic antidotes to the Great Recession. Contents:A Brief History of AusterityExpansionary Austerity in the 21st CenturyThe Housing Bubble CollapseHousing's Trickle-Down EffectsThe Great RecessionPublic Debt and Global AusterityUltra-Austerity in EuropeHow Austerity KillsThe Austerity LobbyMonetary RemediesFiscal RemediesIncomes Policy RemediesThe Importance of Economic Growth and Full Employment Readership: Economic historians, researchers, students and members of the public who are interested in political economy and financial institutions. Key Features:Provides a brief history of austerityExplains how the continuation of the Great Recession was a by-product of austerity measuresOne of the few books published after the recession of 2008 to provide detailed policy recommendations to deal with the forces of austerityKeywords:Austerity;Expansionary Austerity;Housing Bubble;Global Great Recession;Austerity Lobby;Monetary Policy;Fiscal Policy;Incomes Policy;Full Employment;Public Debt;Austerity in Europe;Domestic Inequality;Global Inequality;Economic Growth;Post Keynsesians;John Maynard Keynes;Michal Kalecki;Piero Sraffa;Hyman Minsky;Vita Theory;Trickle-Down Economics;Keynesians;Trickle-Up Economics;Keynesian Economics;Trends in Suicide Rates;Health and The Economy;Alan Greenspan;Ben Benanke;Janet Yellen;Federal Reserve Board;European Central Bank;The Euro

The Austerity State

Stephen McBride,Bryan M. Evans
The Austerity State Book PDF

Author : Stephen McBride,Bryan M. Evans
Publisher : University of Toronto Press
Page : 352 pages
File Size : 53,6 Mb
Release : 2017-09-18
Category : Political Science
ISBN : 9781487515188

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The Austerity State by Stephen McBride,Bryan M. Evans Pdf

The fall-out from the economic and financial crisis of 2008 had profound implications for countries across the world, leading different states to determine the best approach to mitigating its effects. In The Austerity State, a group of established and emerging scholars tackles the question of why states continue to rely on policies that, on many levels, have failed. After 2008, austerity policies were implemented in various countries, a fact the contributors link to the persistence of neoliberalism and its accepted wisdoms about crisis management. In the immediate aftermath of the 2008 collapse, governments and central banks appeared to adopt a Keynesian approach to salvaging the global economy. This perception is mistaken, the authors argue. The “austerian” analysis of the crisis is ahistorical and shifts the blame from the under-regulated private sector to public, or sovereign, debt for which public authorities are responsible. The Austerity State provides a critical examination of the accepted discourse around austerity measures and explores the reasons behind its continued prevalence in the world.

Discourse Analysis and Austerity

Kate Power,Tanweer Ali,Eva Lebdušková
Discourse Analysis and Austerity Book PDF

Author : Kate Power,Tanweer Ali,Eva Lebdušková
Publisher : Routledge
Page : 390 pages
File Size : 47,5 Mb
Release : 2019-03-04
Category : Business & Economics
ISBN : 9781351802918

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Discourse Analysis and Austerity by Kate Power,Tanweer Ali,Eva Lebdušková Pdf

In the immediate aftermath of the global financial crisis of 2008, governments around the developed world coordinated policy moves to stimulate economic activity and avert a depression. In subsequent years, however, cuts to public expenditure, or austerity, have become the dominant narrative in public debate on economic policy. This unique collaboration between economists and linguists examines manifestations of the discourses of austerity as these have played out in media, policy and academic settings across Europe and the Americas. Adopting a critical perspective, it seeks to elucidate the discursive and argumentation strategies used to consolidate austerity as the dominant economic policy narrative of the twenty-first century.

Government Austerity and Socioeconomic Sustainability

P.K. Rao
Government Austerity and Socioeconomic Sustainability Book PDF

Author : P.K. Rao
Publisher : Springer
Page : 44 pages
File Size : 49,9 Mb
Release : 2014-06-24
Category : Business & Economics
ISBN : 9783319042350

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Government Austerity and Socioeconomic Sustainability by P.K. Rao Pdf

This short book integrates the imperatives of public debt sustainability with those of socioeconomic sustainability in the context of budget austerity measures. It is argued that poverty, inequality and unemployment problems should be integral aspects of policy frameworks for austerity and fiscal stability. The economics of austerity in much of economic analysis remains narrowly focused and lopsided, since the implications on the role of human capital and loss of prosperity base are usually ignored. This book argues that various misapplications of policies of government austerity can be avoided if greater attention is accorded to the imperatives of maintaining the win-win approaches for socioeconomic resilience and sustainability in conjunction with debt sustainability and/or fiscal stability.

Crisis, Austerity, and Everyday Life

Gargi Bhattacharyya
Crisis Austerity and Everyday Life Book PDF

Author : Gargi Bhattacharyya
Publisher : Springer
Page : 228 pages
File Size : 44,8 Mb
Release : 2015-10-29
Category : Social Science
ISBN : 9781137411129

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Crisis, Austerity, and Everyday Life by Gargi Bhattacharyya Pdf

Will austerity never end? This timely and insightful book argues that austerity seeks to set the terms of political and economic life for the foreseeable future, extending techniques of exclusion to ever-greater sections of the population.

The Challenges of Fiscal Consolidation and Debt Reduction in the Caribbean

Charles Amo Yartey,Mr.Machiko Narita,Mr.Garth Peron Nicholls,Mr.Joel Chiedu Okwuokei
The Challenges of Fiscal Consolidation and Debt Reduction in the Caribbean Book PDF

Author : Charles Amo Yartey,Mr.Machiko Narita,Mr.Garth Peron Nicholls,Mr.Joel Chiedu Okwuokei
Publisher : International Monetary Fund
Page : 48 pages
File Size : 53,8 Mb
Release : 2017-07-08
Category : Business & Economics
ISBN : 9781475536119

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The Challenges of Fiscal Consolidation and Debt Reduction in the Caribbean by Charles Amo Yartey,Mr.Machiko Narita,Mr.Garth Peron Nicholls,Mr.Joel Chiedu Okwuokei Pdf

This paper examines debt dynamics in the Caribbean and discusses policy options for reducing the high debt levels. Based on empirical studies of factors underlying global large debt reduction episodes, important policy lessons are drawn for the Caribbean. The analysis shows that major debt reductions are associated with strong growth and decisive and lasting fiscal consolidation efforts. Since growth in the current environment is virtually nonexistent, significant fiscal consolidation is inevitable in the region. Better control of the public wage bill, increasing public sector efficiency and tackling transfers are the obvious targets to reduce spending. On the revenue side, there is ample room to reduce tax expenditures, eliminate distortions while broadening the tax base. Fiscal consolidation needs to be complemented by a comprehensive debt reduction strategy including tax policy reforms and structural reforms to boost competiveness.

Social Welfare Issues in Southern Europe

Maria Brown,Michael Briguglio
Social Welfare Issues in Southern Europe Book PDF

Author : Maria Brown,Michael Briguglio
Publisher : Routledge
Page : 210 pages
File Size : 47,5 Mb
Release : 2022-03-10
Category : Reference
ISBN : 9780429557743

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Social Welfare Issues in Southern Europe by Maria Brown,Michael Briguglio Pdf

This volume is the first of its kind to discuss social welfare issues using case studies from a broad range of Southern European countries, both large and small, a decade after the financial crisis. It identifies similarities and differences in the ways in which Southern European countries engage with specific welfare issues and examines whether Southern European welfare is distinct from that of the rest of the continent. The book also engages with the impact of COVID-19 on the social welfare issues under investigation. The volume is divided into four sections, each examining in detail issues including employment, education, health, sexuality, globalization, social movements and migration. With its contributions from experts in the field, the volume is recommended for academics, researchers and students of sociology, social policy, economics, education, politics and social movements.

Handbook of Neoliberalism

Simon Springer,Kean Birch,Julie MacLeavy
Handbook of Neoliberalism Book PDF

Author : Simon Springer,Kean Birch,Julie MacLeavy
Publisher : Routledge
Page : 951 pages
File Size : 43,8 Mb
Release : 2016-07-07
Category : Political Science
ISBN : 9781317549659

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Handbook of Neoliberalism by Simon Springer,Kean Birch,Julie MacLeavy Pdf

Neoliberalism is easily one of the most powerful discourses toemerge within the social sciences in the last two decades, and the number of scholars who write about this dynamic and unfolding process of socio-spatial transformation is astonishing. Even more surprising though is that there has, until now, not been an attempt to provide a wide-ranging volume that engages with the multiple registers in which neoliberalism has evolved. The Routledge Handbook of Neoliberalism seeks to offer a comprehensive overview of the phenomenon of neoliberalism by examining the range of ways that it has been theorized, promoted, critiqued, and put into practice in a variety of geographical locations and institutional frameworks. With contributions from over 50 leading authors working at institutions around the world the volumes seven sections will offer a systematic overview of neoliberalism’s origins, political implications, social tensions, spaces, natures and environments, and aftermaths in addressing ongoing and emerging debates. The volume aims to provide the first comprehensive overview of the field and to advance the established and emergent debates in a field that has grown exponentially over the past two decades, coinciding with the meteoric rise of neoliberalism as a hegemonic ideology, state form, policy and program, and governmentality. It includes a substantive introductory chapter and will serve as an invaluable resource for undergraduates, graduate students, and professional scholars alike.

The European Union in Crisis

Kyriakos N. Demetriou
The European Union in Crisis Book PDF

Author : Kyriakos N. Demetriou
Publisher : Springer
Page : 257 pages
File Size : 45,7 Mb
Release : 2014-10-21
Category : Political Science
ISBN : 9783319087740

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The European Union in Crisis by Kyriakos N. Demetriou Pdf

This volume is a comprehensive and rigorous exploration of intertwined issues surrounding the EU's democracy and legitimacy, written in the turbulent context of the financial crisis. The chapters are woven together under four interconnected thematic sections that examine: rapidly growing national euroscepticism; the Economic Monetary Union and its legitimacy; the future of EU integration; and democratic deficit(s) across its internal & external structure. The volume presents an authoritative collection of research results and surveys by experts in various disciplines related to the EU, and is addressed to researchers and students examining EU governance, representation and accountability, as well as practitioners across a multiplicity of fields.

Economic, Social, and Cultural Rights in International Law

Eibe Riedel,Gilles Giacca,Christophe Golay
Economic Social and Cultural Rights in International Law Book PDF

Author : Eibe Riedel,Gilles Giacca,Christophe Golay
Publisher : OUP Oxford
Page : 650 pages
File Size : 53,5 Mb
Release : 2014-03-14
Category : Law
ISBN : 9780191509575

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Economic, Social, and Cultural Rights in International Law by Eibe Riedel,Gilles Giacca,Christophe Golay Pdf

Recent years have seen a remarkable expansion in the scale and importance of economic, social, and cultural rights (ESC rights), culminating in the adoption of the Optional Protocol to the International Covenant on Economic, Social and Cultural Rights in December 2008. The Protocol gives individuals and groups the ability to bring complaints about rights violations before the UN Committee on Economic, Social, and Cultural Rights. Against this background, this book focuses on the question of how fundamental socio-economic human rights enshrined in international law are defined, interpreted, understood, and implemented. It assesses how effective efforts to realize ESC rights have been and investigates the contemporary challenges obstructing their protection. It sets out the impact of the global financial crisis and austerity measures, the human rights responsibilities of corporations, and trends in the justiciability of those rights at the national and international level. The interrelationship between ESC rights and other legal regimes such as trade and investment law, environmental law, international criminal law, and international humanitarian law is also thoroughly examined. After an introduction by the editors the book contains seventeen chapters looking at the main questions which shape the progressive realization of ESC rights and their monitoring mechanisms. The authors of the chapters, both scholars and practitioners, adopt interdisciplinary approaches that move beyond traditional analyses of ESC rights. In doing so, they clarify and illuminate multiple aspects of the law by bringing together the different aspects of ESC rights, restating the challenges they face, and assessing the progress that has been made in expanding their adoption.

Beyond Defeat and Austerity

David J Bailey,Mònica Clua-Losada,Nikolai Huke,Olatz Ribera-Almandoz
Beyond Defeat and Austerity Book PDF

Author : David J Bailey,Mònica Clua-Losada,Nikolai Huke,Olatz Ribera-Almandoz
Publisher : Routledge
Page : 288 pages
File Size : 47,7 Mb
Release : 2017-09-22
Category : Political Science
ISBN : 9781317494560

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Beyond Defeat and Austerity by David J Bailey,Mònica Clua-Losada,Nikolai Huke,Olatz Ribera-Almandoz Pdf

Much of the critical discussion of the European political economy and the Eurozone crisis has focused upon a sense that solidaristic achievements built up during the post-war period are being continuously unravelled. Whilst there are many reasons to lament the trajectory of change within Europe’s political economy, there are also important developments, trends and processes which have acted to obstruct, hinder and present alternatives to this perceived trajectory of declining social solidarity. These alternatives have tended to be obscured from view, in part as a result of the conceptual approaches adopted within the literature. Drawing from examples across the EU, this book presents an alternative narrative and explanation for the development of Europe’s political economy and crisis, emphasising the agency of what are typically considered subordinate (and passive) actors. By highlighting patterns of resistance, disobedience and disruption it makes a significant contribution to a literature that has otherwise been more concerned to understand patterns of heightened domination, exploitation, inequality and neoliberal consolidation. It will be of interest to students and scholars alike.