Publications

237 publications found, searching for 'Fiscal Policy '

• Policy Note No. 9
  October 10, 2013

  A New “Lehman Moment,” or Something Worse?

  Michalis Nikiforos
  Abstract

  The United States entered the second week of a government shutdown on Monday, with no end to the deadlock in sight. The cost to the government of a similar shutdown…more

  Download Policy Note 2013/9 PDF (242.10 KB)
• Working Paper No. 776
  September 30, 2013

  Δημοσιονομική πολιτική και επανεξισορρόπηση στην ευρωζώνη

  Achim Truger and Eckhard Hein
  Abstract

  Το «φρένο χρέους» στη Γερμανία θεωρείται επιτυχημένη πολιτική και ως εκ τούτου λειτουργεί ως πρότυπο για τη ζώνη του ευρώ και το λεγόμενο «δημοσιονομικό σύμφωνο». Στην παρούσα εργασία ασκούμε έντονη…more

  Download Επιστημονική Εργασία υπό Εξέλιξη (Working Paper) No. 776 PDF (663.14 KB)
• Working Paper No. 776
  September 30, 2013

  Fiscal Policy and Rebalancing in the Euro Area

  Achim Truger and Eckhard Hein
  Abstract

  The German debt brake is often regarded as a great success story, and has therefore served as a role model for the Euro area and its fiscal compact. In this…more

  Download Working Paper No. 776 PDF (458.46 KB)
• One-Pager No. 43
  September 17, 2013

  Fiscal Sadism and the Farce of Deficit Reduction in Greece

  C. J. Polychroniou
  Abstract

  Unemployment in Greece has climbed to a new record of 27.9 percent and the country is headed toward a third bailout. The obsession with reducing the budget deficit is crippling…more

  Download One-Pager No. 43 PDF (69.00 KB)
• One-Pager No. 41
  September 10, 2013

  Waiting for Export-led Growth

  Dimitri B. Papadimitriou, Gennaro Zezza, and Michalis Nikiforos
  Abstract

  Greece’s unemployment rate just hit 27.6 percent. That wasn’t supposed to happen. Why has the troika—the European Commission, International Monetary Fund (IMF), and European Central Bank—been so consistently wrong about…more

  Download One-Pager No. 41 PDF (71.51 KB)
• Working Paper No. 772
  August 29, 2013

  Ο επαναπροσανατολισμός της δημοσιονομικής πολιτικής

  Pavlina R. Tcherneva
  Abstract

  Στην παρούσα εργασία επιχειρείται η κριτική της δημοσιονομικής πολιτικής όπως εμφανίζεται στη θεωρία και εφαρμόζεται στην πράξη. Συγκεκριμένα, εξετάζονται δύο μέθοδοι σταθεροποίησης από την πλευρά της ζήτησης: η συμβατική δαπάνη…more

  Download Επιστημονική Εργασία υπό Εξέλιξη No. 772 PDF (688.57 KB)
• Working Paper No. 772
  August 29, 2013

  Reorienting Fiscal Policy

  Pavlina R. Tcherneva
  Abstract

  The present paper offers a fundamental critique of fiscal policy as it is understood in theory and exercised in practice. Two specific demand-side stabilization methods are examined here: conventional pump…more

  Download Working Paper No. 772 PDF (499.89 KB)
• Policy Note No. 6
  July 23, 2013

  A Failure by Any Other Name

  C. J. Polychroniou
  Abstract

  Research Associate and Policy Fellow C. J. Polychroniou argues that a political solution based on a new economic vision is needed to bring an end to the Greek crisis.  Polychroniou…more

  Download Policy Note 2013/6 PDF (249.74 KB)
• Strategic Analysis
  July 02, 2013

  The Greek Economic Crisis and the Experience of Austerity

  Dimitri B. Papadimitriou, Gennaro Zezza, and Michalis Nikiforos
  Abstract

  Employment in Greece is in free fall, with more than one million jobs lost since October 2008—a drop of more than 28 percent. In March, the “official” unemployment rate was…more

  Download Strategic Analysis, July 2013 PDF (999.06 KB)
• Strategic Analysis
  March 19, 2013

  Ισχύει ακόμη η σύνδεση παραγωγής και δημιουργίας θέσεων εργασίας;

  Dimitri B. Papadimitriou, Michalis Nikiforos, and Greg Hannsgen
  Abstract

  Καθώς ετοιμάζεται να δημοσιευθεί η παρούσα έκθεση, η ανεργία παραμένει σε εξαιρετικά υψηλά επίπεδα ακόμη και σε σχέση με ανάλογα χρονικά σημεία από προηγούμενες περιόδους οικονομικής ανάκαμψης. Η οικονομία των…more

  Download Στρατηγικη Αναλυση, Μάρτιος 2013 PDF (3.79 MB)
• Strategic Analysis
  March 19, 2013

  Is the Link between Output and Jobs Broken?

  Dimitri B. Papadimitriou, Michalis Nikiforos, and Greg Hannsgen
  Abstract

  As this report goes to press, the official unemployment rate remains tragically elevated, compared even to rates at similar points in previous recoveries. The US economy seems once again to…more

  Download Strategic Analysis, March 2013 PDF (725.09 KB)
• Working Paper No. 748
  January 17, 2013

  Analyzing Public Expenditure Benefit Incidence in Health Care

  Lekha S. Chakraborty, Jannet Farida Jacob, and Yadawendra Singh
  Abstract

  The effectiveness of public spending remains a relatively elusive empirical issue. This preliminary analysis is an attempt, using benefit incidence methodology, to define the effectiveness of spending at the subnational…more

  Download Working Paper No. 748 PDF (1.27 MB)
• Working Paper No. 747
  January 17, 2013

  Marriner S. Eccles and the 1951 Treasury – Federal Reserve Accord

  Thorvald Grung Moe
  Abstract

  The 1951 Treasury – Federal Reserve Accord is an important milestone in central bank history. It led to a lasting separation between monetary policy and the Treasury’s debt-management powers, and…more

  Download Working Paper No. 747 PDF (410.86 KB)
• Policy Note No. 12
  December 24, 2012

  Η Ελλάδα στην παγίδα της λιτότητας της τρόικας

  Giorgos Argitis
  Abstract

  Στις 27 Νοεμβρίου 2012, το Eurogroup κατέληξε σε μια νέα «ελληνική συμφωνία», που αποκαλύπτει για μια ακόμη φορά ότι δεν υπάρχει πολιτική βούληση για την αντιμετώπιση της κρίσης χρέους στην…more

  Download Σημείωμα Πολιτικής 2012/12 PDF (401.43 KB)
• Policy Note No. 12
  December 24, 2012

  Greece: Caught Fast in the Troika’s Austerity Trap

  Giorgos Argitis
  Abstract

  On November 27, 2012, the Eurogroup reached a new “Greek deal” that once more discloses that there is no political will to address Greece’s debt crisis—or the country’s economic and…more

  Download Policy Note 2012/12 PDF (170.23 KB)
• Working Paper No. 744
  December 20, 2012

  Interest Rate Determination in India

  Lekha S. Chakraborty
  Abstract

  Controlling for capital flows using the high-frequency macro data of a financially deregulated regime, this paper examines whether there is any evidence of the fiscal deficit determining the interest rate…more

  Download Working Paper No. 744 PDF (195.73 KB)
• Working Paper No. 742
  December 19, 2012

  Τα προβλήματα της ΕΕ και οι ανησυχίες της Ευρωπαϊκής Κεντρικής Τράπεζας

  Robert J. Barbera and Gerald Holtham
  Abstract

  Οι χρηματοοικονομικές κρίσεις που συνοδεύονται από την απειλή μιας επακόλουθης ύφεσης και τον αποπληθωρισμό χρέους λαμβάνουν χώρα με αυξανόμενη ταχύτητα στις Ηνωμένες Πολιτείες από το 1980 έως σήμερα. Σχεδόν αντανακλαστικά,…more

  Download Επιστημονική εργασία υπό εξέλιξη (Working Paper) No. 742 PDF (708.38 KB)
• Working Paper No. 742
  December 19, 2012

  ECB Worries / European Woes

  Robert J. Barbera and Gerald Holtham
  Abstract

  Financial market crises with the threat of a subsequent debt-deflation depression have occurred with increasing regularity in the United States from 1980 through the present. Almost reflexively, when confronted with…more

  Download Working Paper No. 742 PDF (412.41 KB)
• Working Paper No. 736
  November 21, 2012

  A Meme for Money

  L. Randall Wray
  Abstract

  This paper argues that the usual framing of discussions of money, monetary policy, and fiscal policy plays into the hands of conservatives.That framing is also largely consistent with the conventional…more

  Download Working Paper No. 736 PDF (304.18 KB)
• Public Policy Brief No. 127
  November 07, 2012

  Δημοσιονομικές παγίδες και μακροπολιτική μετά την κρίση στην ευρωζώνη

  Dimitri B. Papadimitriou and Greg Hannsgen
  Abstract

  Τους επόμενους μήνες, οι Ηνωμένες Πολιτείες πρέπει να κάνουν μια βασική επιλογή στην οικονομική τους πολιτική, μια επιλογή που θα διαμορφώσει την οικονομία των ΗΠΑ για τα επόμενα χρόνια. Οι…more

  Download Κείμενο Δημόσιας Πολιτικής No. 127 PDF (780.66 KB)
• Public Policy Brief No. 127
  November 07, 2012

  Fiscal Traps and Macro Policy after the Eurozone Crisis

  Dimitri B. Papadimitriou and Greg Hannsgen
  Abstract

  The United States must make a fundamental choice in its economic policy in the next few months, a choice that will shape the US economy for years to come. Pundits…more

  Download Public Policy Brief No. 127, 2012 PDF (456.91 KB)
• One-Pager No. 35
  October 19, 2012

  Ένα σύντομος οδηγός στις συζητήσεις γύρω από την τόνωση της οικονομίας και τη λιτότητα

  Greg Hannsgen
  Abstract

  Θα πρέπει να επιτρέψουμε να τεθεί σε ισχύ ο δημοσιονομικός γκρεμός, μια πολιτική που περιλαμβάνει αυτόματες περικοπές των δαπανών σε όλους τους τομείς και μεγάλες αυξήσεις στους φόρους που θα…more

  Download Μονοσέλιδο No. 35 PDF (245.73 KB)
• One-Pager No. 35
  October 19, 2012

  A Brief Guide to the US Stimulus and Austerity Debates

  Greg Hannsgen
  Abstract

  Should we allow the fiscal cliff, with its across-the-board spending cuts and big tax increases that will affect almost every American, to take effect? Economists have been weighing in on…more

  Download One-Pager No. 35 PDF (110.46 KB)
• Research Project Report
  October 18, 2012

  Current Prospects for the Greek Economy

  Dimitri B. Papadimitriou, Gennaro Zezza, and Vincent Duwicquet
  Abstract

  In this interim report, we discuss the evolution of major macroeconomic variables for the Greek economy, focusing in particular on the sources of growth before and after the euro era,…more

  Download Research Project Report, October 18, 2012 PDF (9.95 MB)