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Tightening tensions: fiscal policy and civil unrest in South America 1937–95
On 1 May 2010 the Greek Prime Minister George Papandreau announced a set of drastic austerity measures. May Day itself saw clashes between police and demonstrators. On 5 May a general strike paralyzed the country armed demonstrators fought street battles with police. A bank burned down and numerous ...
Fiscal policy and macroeconomic performance: an overview
After two decades of relative neglect fiscal policy is back at the center of the economics research agenda. The fiscal developments around the global financial crisis of 2007–09 are undoubtedly a major factor behind that comeback. The large fiscal stimulus packages adopted by many countries in the ...
Fiscal policy debt crises and economic growth
It is very well known that growth rates play a role in debt dynamics. Despite this widespread knowledge real world narratives of public debt crises often focus almost exclusively on budget deficits and neglect the role of growth. This paper presents the simplest arithmetic possible to illustrate how ...