Tag Archives: austerity

The Time for Austerity: Estimating the Average Treatment Effect of Fiscal Policy

From Oscar Jorda and Alan Taylor: Elevated government debt levels in advanced economies have risen rapidly as sovereigns absorbed private-sector losses and cyclical deficits blew up in the Global Financial Crisis and subsequent slump. A rush to fiscal austerity followed but its justifications and impacts … Continue reading

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Larry Summers on “The Fiscal and Economic Effects of Austerity”

From Larry Summers: Thank you for the opportunity to speak before this committee. You have chosen to address issues relating to austerity at an opportune time as both our economic and our budget situations are in considerable flux and as … Continue reading

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Larry Summers Reviews the History of Austerity

Summers reviews Austerity: the History of a Dangerous Idea by Mark Blyth here. Photo from Financial Times

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If Austerity is Working, What Does Failure Look Like?

From Paul Krugman

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3 Articles from the Sunday NYTimes

1. God Save the British Economy  Each month, the committee heard Posen’s advice. Each month, it voted 8 to 1 against him. The bank eschewed his more expansionary suggestions and stuck to a more conservative approach of keeping interest rates low … Continue reading

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