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Implementing the Golden Rule for Public Investment in Europe: Safeguarding Public Investment and Supporting the Recovery

Truger, Achim - WWWforEurope - 2015

constraints of the SGP has driven many member states into austerity. In contrast, the golden rule of public investment proposed in … public finance and would allow financing net public investment by government deficits thus promoting intergenerational … fairness as well as economic growth. A pragmatic version focusing on net public investment as defined in the national accounts …

Persistent link: https://www.econbiz.de/10011228299

Macroeconomic co-ordination as an economic policy concept : opportunities and obstacles in the EMU

Truger, Achim; Hein, Eckhard - Wirtschafts- und Sozialwissenschaftliches Institut, … - 2004

This paper traces the euro zone?s inadequate macroeconomic performance in recent years back to the predominance of a restrictive macroeconomic policy mix based on a ?new monetarist? approach to economic policy. An approach based on a (post-)Keynesian analysis is presented as a growth and...

Persistent link: https://www.econbiz.de/10009327899

European Monetary Union: Nominal convergence, real divergence and slow growth? An investigation into the effects of changing macroeconomic policy institutions associated with monet...

Hein, Eckhard; Truger, Achim - Wirtschafts- und Sozialwissenschaftliches Institut, … - 2002

It is by now widely accepted that the structural characteristics of the countries to become the euro area did not adhere to the conditions of an optimum currency area (OCA) when the euro was introduced in 1999. However, the satisfaction of OCA criteria may not be required for a workable currency...

Persistent link: https://www.econbiz.de/10009327917

"Fiscal Policy and Rebalancing in the Euro Area: A Critique of the German Debt Brake from a Post-Keynesian Perspective"

Hein, Eckhard; Truger, Achim - Levy Economics Institute - 2013

and/or investment and savings behavior in Germany. …

Persistent link: https://www.econbiz.de/10010697208

Austerity in the euro area: the sad state of economic policy in Germany and the EU

Truger, Achim - In: European Journal of Economics and Economic Policies: … 10 (2013) 2, pp. 158-174

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/10010701878

Austerity, cyclical adjustment and the remaining leeway for expansionary fiscal policies in the Euro area

Truger, Achim - Institut für Makroökonomie und Konjunkturforschung … - 2014

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...

Persistent link: https://www.econbiz.de/10011098356

Fiscal Policy and Rebalancing in the Euro Area: A Critique of the German Debt Brake from a Post-Keynesian Perspective

Hein, Eckhard; Truger, Achim - In: Panoeconomicus 61 (2014) 1, pp. 21-38

have to rely on unrealistic shifts in the functional income distribution and/or investment and savings behaviour in Germany. …

Persistent link: https://www.econbiz.de/10011134502

Finance-dominated capitalism in crisis: The case for a Global Keynesian New Deal

Hein, Eckhard; Truger, Achim - Fachbereich Wirtschaftswissenschaften, Hochschule für … - 2010

We analyse the long-run imbalances of finance-dominated capitalism underlying the present crisis - which began in 2007 - with a focus on developments in the US and Germany. We argue that beyond inefficient regulation of the financial sector, the severeness of the present crisis has been mainly...

Persistent link: https://www.econbiz.de/10010955073

Future fiscal and debt policies: Germany in the Context of the European Monetary Union

Hein, Eckhard; Truger, Achim - Fachbereich Wirtschaftswissenschaften, Hochschule für … - 2013

Currently fiscal policies in Germany seem to be in a very comfortable position and the German Debt Brake is regarded as an institutional precondition for this success and has been exported to the Euro area in the guise of the Fiscal Compact. In this paper we scrutinize German fiscal policies and...

Persistent link: https://www.econbiz.de/10010955076

Austerity in the Euro area: The sad state of economic policy in Germany and the EU

Truger, Achim - Fachbereich Wirtschaftswissenschaften, Hochschule für … - 2013

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/10010955081