Austerity - When It Works and When It Doesn't Alesina AlbertoPevná vazba
A timely and incisive look at austerity measures that succeed--and those that don'tFiscal austerity is hugely controversial. Opponents argue that it can trigger downward growth spirals and become…
Specifikacia Austerity - When It Works and When It Doesn't Alesina AlbertoPevná vazba
A timely and incisive look at austerity measures that succeed--and those that don'tFiscal austerity is hugely controversial. Opponents argue that it can trigger downward growth spirals and become self-defeating. Supporters argue that budget deficits have to be tackled aggressively at all times and at all costs. In this masterful book, three of today's leading policy experts cut through the political noise to demonstrate that there is not one type of austerity but many.Looking at thousands of fiscal measures adopted by sixteen advanced economies since the late 1970s, Austerity assesses the relative effectiveness of tax increases and spending cuts at reducing debt. It shows that spending cuts have much smaller costs in terms of output losses than tax increases. Spending cuts can sometimes be associated with output gains in the case of expansionary austerity
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