German fiscal policy is nowadays often presented as a shining example due to successful budget consolidation after the Great Recession. However, the idea that the German success is the result of a well-thought-out economic strategy that could therefore serve as a role model for other countries...

Books reviewed: Becker, Joachim/Weissenbacher, Rudy (2007): Dollarization, Euroization and Financial Instability. Central and Eastern European Countries between Stagnation and Financial Crisis?, Marburg Arestis, Philip/Sawyer, Malcolm (eds.) (2006): A Handbook of Alternative Monetary Economics...

Fiscal policy in the Euro area is still dominated by austerity measures implemented under the institutional setting of the 'reformed' stability and growth pact, and the even stricter 'fiscal compact'. At the same time, calls for a more expansionary fiscal policy to overcome the economic crisis...

It is by now a widely shared insight that fiscal policy needs to be re-strengthened as a macroeconomic policy instrument within European macroeconomic policies: Recent experiences with austerity policies, new research regarding the size of the fiscal multiplier and the fact that monetary policy...