Found 11 article(s) for author 'Austerity'

Alberto Alesina on Inequality, Immigration, and Austerity

Alberto Alesina on Inequality, Immigration, and Austerity July 2018. GrowthPolicy’s Devjani Roy interviewed Alberto Alesina, the Nathaniel Ropes Professor of Political Economy at Harvard University, on inequality, immigration, and austerity. | Click here for more interviews like this one. Links: Alberto Alesina’s faculty page at Harvard | Publications | NBER research page | Wikipedia Growthpolicy.org. […]

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Climbing out of Debt

Climbing out of Debt. Alberto Alesina, March 2018, Paper, “Almost a decade after the onset of the global financial crisis, national debt in advanced economies remains near its highest level since World War II, averaging 104 percent of GDP. In Japan, the ratio is 240 percent and in Greece almost 185 percent. In Italy and Portugal, debt exceeds 120 percent of GDP.” Link

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What do we know about the effects of Austerity?

What do we know about the effects of Austerity? Alberto Alesina, January 2018, Paper, “This paper summarizes the results of a large recent literature on multi year fiscal plans for deficit reduction (austerity). The key results are that deficit reduction policies based upon spending cuts are much less costly in terms of short run output losses than tax based adjustments. On average fiscal adjustment based upon spending cuts have very small output costs and in some cases they are expansionary. We then discuss which possible models can explain these findings and discuss how the evidence can disentangle them.Link

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Understanding the Political Economy of the Eurozone Crisis

Understanding the Political Economy of the Eurozone Crisis. Jeffry Frieden, 2017, Paper, “The Eurozone crisis constitutes a grave challenge to European integration. This article presents an overview of the causes of the crisis and analyzes why it has been so difficult to resolve. We focus on how responses to the crisis were shaped by distributive conflicts both among and within countries. On the international level, debtor and creditor countries have fought over the distribution of responsibility for the accumulated debt; countries with current account surpluses and deficits have fought over who should implement the policies necessary to reduce the current account imbalances. Within countries, interest groups have fought to shift the costs of crisis resolution away from themselves.Link

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Larry Summers: The prospect of Donald Trump being president is the gravest threat to America

Larry Summers: The prospect of Donald Trump being president is the gravest threat to America, April 14, 2016, Video. “Former Treasury Secretary Larry Summers spoke at the International Monetary Fund on Wednesday, warning against austerity measures amid a tepid economy.  Yahoo Finance sat down with him to get little more color on the economy and to find out what keeps him up most at night.  “I think the prospect of Donald Trump being President would be the gravest threat to our prosperity, our security, and our freedom in my adult lifetime,” Summers said. “That’s the thing I would worry most about.”Link

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Is Tsipras the New Lula?

Is Tsipras the New Lula? Jeffrey Frankel, July 17, 2015, Opinion.Greek Prime Minister Alexis Tsipras has the chance to become to his country what South Korean President Kim Dae-jung and Brazilian President Luiz Inácio Lula da Silva were to theirs: a man of the left who moves toward fiscal responsibility and freer markets. Like Tsipras, both were elected in the midst of an economic crisis. Both immediately confronted the international financial constraints that opposition politicians can afford to ignore…Link

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Amartya Sen: The Economic Consequences of Austerity

Amartya Sen: The Economic Consequences of Austerity. Amartya Sen, June 4, 2015, Opinion. “On 5 June 1919, John Maynard Keynes wrote to the prime minister of Britain, David Lloyd George, “I ought to let you know that on Saturday I am slipping away from this scene of nightmare. I can do no more good here.” Thus ended Keynes’s role as the official representative of the British Treasury at the Paris Peace Conference. It liberated Keynes from complicity in the Treaty of Versailles (to be signed later that month), which he detested. Why did Keynes dislike a treaty that ended the state of war between Germany and the Allied Powers…Link

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The Rise and Fall of Krugmania in the UK

The Rise and Fall of Krugmania in the UK. Niall Ferguson, May 11, 2015, Opinion. “It is already conventional to name the former party leaders Ed Miliband, Nick Clegg and Nigel Farage as the biggest losers of the British general election, closely followed by all the opinion pollsters and the narcissistic comedian Russell Brand. But this is to understate the abject defeat suffered by some Keynesian economists, and in particular the Nobel prize winning former Princeton professor Paul Krugman…” Link

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