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fiscal level - has been more crucial for the stabilization of euro sovereign bond markets in the crisis environment of the …
Persistent link: https://www.econbiz.de/10012534642
weeks at a time, contributing to a very severe downturn in economic activity. To mitigate the policy induced economic crisis …
Persistent link: https://www.econbiz.de/10014390569
The Euro area is currently going through its worst period of recession and economic stagnation since the Great Depression and World War II. The article tries to give an impression of the extraordinary degree of fiscal austerity and the devastating economic effects it has already had and must be...
Persistent link: https://www.econbiz.de/10009756285
Does fiscal austerity influence sovereign debt spreads in a state-dependent manner? To investigate this, we develop an endogenous sovereign default model that incorporates long-maturity debt, fiscal rules, and investment. We uncover novel insights in the Greek default. First, our model provides...
Persistent link: https://www.econbiz.de/10014353023
, Russia and Turkey during the economic crisis under the COVID-19 pandemic. It also discussed some closely related issues, such …
Persistent link: https://www.econbiz.de/10013232584
The Italian Great Recession has a double-dip pattern. After the start of the global financial crisis, Italy experienced … a second serious recession in 2011 because of the sovereign debt crisis. The reaction of Italian governments was mild at … the beginning and more convinced since the start of the sovereign debt crisis in 2011. Adopted policies contributed to …
Persistent link: https://www.econbiz.de/10011284961
Recovery Plan, five EU countries (Cyprus, Greece, Italy, Portugal, and Spain) have experienced a steady increase in their …
Persistent link: https://www.econbiz.de/10012116053
Grauwe, 2006). This optimism is, however, not warranted for the euro. The euro has now been in a crisis for more than three … years and a self-correcting mechanism leading out of the crisis is not in sight. The reason is that the euro union does not …, this being the essence of the euro crisis. Therefore the governments should withdraw and return to an economic union …
Persistent link: https://www.econbiz.de/10013074396
Grauwe, 2006). This optimism is, however, not warranted for the euro. The euro has now been in a crisis for more than three … years and a self-correcting mechanism leading out of the crisis is not in sight. The reason is that the euro union does not …, this being the essence of the euro crisis. Therefore the governments should withdraw and return to an economic union …
Persistent link: https://www.econbiz.de/10010192073
The Global Financial Crisis of 2007–2008 ranks among the biggest disruptions of the world economy in decades. The scope … and severity of its impact are testified by the fact that 10 years after the crisis none of the world's major economies …
Persistent link: https://www.econbiz.de/10012850191