Hostname: page-component-586b7cd67f-2plfb Total loading time: 0 Render date: 2024-11-22T06:22:45.609Z Has data issue: false hasContentIssue false
  • English
  • Français

Self-Defeating Austerity?

Published online by Cambridge University Press:  26 March 2020

Dawn Holland  and
Jonathan Portes
Jonathan Portes*
Affiliation:
National Institute of Economic and Social Research
*
e-mail: [email protected].
Get access Rights & Permissions [Opens in a new window]

Abstract

An abstract is not available for this content so a preview has been provided. Please use the Get access link above for information on how to access this content.
Image of the first page of this content. For PDF version, please use the ‘Save PDF’ preceeding this image.'
Type
Commentary
Information
National Institute Economic Review , Volume 222 , October 2012 , pp. F4 - F10
Copyright
Copyright © 2012 National Institute of Economic and Social Research

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Footnotes

This Commentary is a shorter version of Holland (2012a), which contains a fuller and more technical explanation of the modelling techniques used. It also draws heavily on two previous papers: Barrell et al. (2012) and Bagaria et al. (2012). We would like to acknowledge the significant contributions of our co-authors from both papers to this work. However, any errors in this current version of the paper are of course our own.

References

Alesina, A.F. and Ardagna, S. (2009), ‘Large changes in fiscal policy: taxes versus spending’, NBER Working Paper No. 15438, October.CrossRefGoogle Scholar
Auerbach, A.J. and Gorodnichenko, Y. (2012), ‘Fiscal multipliers in recession and expansion”, American Economic Journal: Economic Policy, 4 2, pp. 1–27.Google Scholar
Bagaria, N., Holland, D. and Van Reenen, J. (2012), ‘Fiscal consolidation during a depression’, National Institute Economic Review, 221, pp. F42–54.CrossRefGoogle Scholar
Barrell, R., Fie, T. and Liadze, I. (2009), ‘Fiscal policy effectiveness in the banking crisis’, National Institute Economic Review, 207.CrossRefGoogle Scholar
Barrell, R., Holland, D. and Hurst, A.I. (2012), ‘Fiscal consolidation Part 2: fiscal multipliers and fiscal consolidations’, OECD Economics Department Working Paper No. 933Google Scholar
DeLong, J.B. and Summers, LH. (2012), ‘Fiscal policy in a depressed economy’, Brookings Papers on Economic Activity 2012.CrossRefGoogle Scholar
Euroframe (2012), ‘Economic Assessment of the Euro Area’, winter 2011/12.Google Scholar
Fatas, A. (2012), ‘Underestimating fiscal policy multipliers’, blogpost, October.Google Scholar
Giles, C. (2012), Financial Times, October.Google Scholar
Holland, D. (2012a), ‘Less austerity, more growth?’, paper prepared for ENEPRI Conference: EU Growth Prospects in the Shadow of the Crisis.Google Scholar
Holland, D. (2012b), ‘Reassessing productive capacity in the United States’, National Institute Economic Review, 220.CrossRefGoogle Scholar
IMF (2010), World Economic Outlook, October.Google Scholar
IMF (20l2a), World Economic Outlook, October.Google Scholar
IMF (2012b), Fiscal Monitor Update, July.Google Scholar
Keynes, J.M. (1933), The Means to Prosperity, London, Macmillan.Google Scholar
Spilimbergo, A., Symansky, S. and Schindler, M. (2009), ‘Fiscal multipliers’, IMF Staff Position Note, SPN/09/1 1.CrossRefGoogle Scholar
Stiglitz, J. and Greenwald, B. (2003), Towards a New Paradigm in Monetary Economics, Cambridge, Cambridge University Press.CrossRefGoogle Scholar