Heimberger, Philipp - 2015
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 that the depth of the economic crisis in the euro area's economies is … closely related to the harshness of fiscal austerity. Cumulative multiplier estimates are found to vary in a range from 1.4 to …