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Germany and the euroland crisis : the making of a vulnerable haven

Bibow, Jörg - 2013

This paper investigates Germany's vulnerability to the ongoing Euroland crisis. In 2010-11, Germany experienced a strong rebound from the global financial crisis of 2008-09. The Euroland crisis then meant record low interest rates and a depressed euro that boosted German extra-area exports. But...

Persistent link: https://www.econbiz.de/10009757118

The Euroland crisis and Germany's euro trilemma

Bibow, Jörg - In: International review of applied economics 27 (2013) 3, pp. 360-385

Persistent link: https://www.econbiz.de/10009781098

Four decades of municipal bailouts in Germany

Person, Christian; Geißler, René - In: Local public finance : an international comparative …, (pp. 227-245). 2021

a phenomenon in Germany for decades. As an institutional response, most German states implemented bailouts to restore … local public finances. This chapter gives a brief description of the history of municipal bailouts in Germany. We begin with … the first small bailout programme in North Rhine-Westphalia during the 1980s. In the aftermath of the global financial …

Persistent link: https://www.econbiz.de/10012586976

Sovereign Risk and the Effects of Fiscal Retrenchment in Deep Recessions

Corsetti, Giancarlo - 2011

The authors analyze the effects of government spending cuts on economic activity in an environment of severe fiscal strain, as reflected by a sizeable risk premium on government debt. Specifically, they consider a 'sovereign risk channel,' through which sovereign default risk spills over to the...

Persistent link: https://www.econbiz.de/10013120089

Sovereign – Bank Risk Interconnections During the Greek Financial Crisis and the Role of the Italian Debt

Cifarelli, Giulio - 2018

The Greek crisis has brought to light the strong nexus between the credit risks of European banks and their sovereign. We study this phenomenon in Germany, France, Italy and Spain by estimating the conditional correlations between sovereign and bank CDS bond spreads over the period 2006-2015. A...

Persistent link: https://www.econbiz.de/10012930254

The financial crisis, austerity policy and Greece

Eißel, Dieter - In: Comparative economic research : Central and Eastern Europe 18 (2015) 4, pp. 5-26

Persistent link: https://www.econbiz.de/10011459031

The financial crisis, austerity policy and Greece

Eißel, Dieter - In: Comparative economic research : Central and Eastern Europe 18 (2015) 4, pp. 5-26

bubble in USA. Owing to public bailouts, this finance capital did not lose so much after the bubble bursts. However, the … bailouts created serious problems for state budgets, which were already poor as a consequence of the tax race to the bottom …

Persistent link: https://www.econbiz.de/10011867969

Did fiscal consolidation cause the double dip recession in the euro area?

Heimberger, Philipp - 2015

This paper analyses the short-run effects of fiscal consolidation measures on economic activity in the euro area during the euro crisis. It presents new econometric estimates on the link between cumulative GDP growth and fiscal austerity measures during 2011-2013. The main empirical finding is...

Persistent link: https://www.econbiz.de/10011778844

The grand tour: Keynes and Goodwin go to Greece

Haddad, Eduardo Amaral; Cotarelli, Natalia; Simonato, … - In: Journal of economic structures : JES; the official … 9 (2020) 31, pp. 1-21

The impact of the crisis in the Greek economy was not uniform among the regions, threatening socioeconomic cohesion. In this paper, we explore the concept of the income multiplier in a multi-regional input-output setting, in the context of the Greek recession, showing empirical evidence for the...

Persistent link: https://www.econbiz.de/10012256332

Brünings austerity policies of the early 1930s intensified the economic slump and increased unemployment

Ettmeier, Stephanie; Kriwoluzky, Alexander - In: DIW weekly report : economy, politics, science : a … 12 (2022) 24/25, pp. 163-168

May 2022 marked the 90th anniversary of the end of Heinrich Brüning’s term as Reich Chancellor. To this day, the economic effects of Brüning’s extreme austerity measures remain unclear. However, new data and calculations have made an initial quantification of the economic consequences of...

Persistent link: https://www.econbiz.de/10013285625