We simulate the Euro Area's fiscal consolidation between 2011 and 2013 by employing two DSGE models used by the ECB and … constrained households. In the latter scenario, fiscal consolidation would be largely responsible for the decline in the output … gap from 2011-2013. Postponing the fiscal consolidation to a period of unconstrained monetary policy (until after the …

We simulate the Euro Area's fiscal consolidation between 2011 and 2013 by employing two DSGE models used by the ECB and … constrained households. In the latter scenario, fiscal consolidation would be largely responsible for the decline in the output … gap from 2011-2013. Postponing the fiscal consolidation to a period of unconstrained monetary policy (until after the …

Abstract This paper analyses the short-run effects of fiscal consolidation measures on economic activity in the euro … austerity measures during 2011-2013. The main empirical finding is that the depth of the economic crisis in the euro area … from 1.4 to 2.1, depending on the data source used to identify the intensity of fiscal consolidation. Given these …

This paper analyses the short-run effects of fiscal consolidation measures on economic activity in the euro area during … measures during 2011-2013. The main empirical finding is that the depth of the economic crisis in the euro area's economies is … 2.1, depending on the data source used to identify the intensity of fiscal consolidation. Given these multiplier values …

This paper analyses the short-run effects of fiscal consolidation measures on economic activity in the euro area during … measures during 2011-2013. The main empirical finding is that the depth of the economic crisis in the euro area's economies is … 2.1, depending on the data source used to identify the intensity of fiscal consolidation. Given these multiplier values …

The paper presents a model-based assessment of fiscal multipliers operating in the euro area during the period 2011 …