Fiscal austerity vs. expansionary fiscal policy: on the results of these opposed economic policies applied to fight recessions

Joaquim Vergés-Jaime*

*Autor corresponent d’aquest treball

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Resum

This paper presents an inquiry into the observed results when governments have implemented one or other type of (opposed) economic policy prescribed in economics to reverse the consequences of a global economic crisis –like that unleashed in 2008–. An updated assessment of the evidence in this respect is developed, through a review of available empirical studies and analysis of the outcomes -in terms of recovery of economic activity- of having applied one and the other ‘competing’ economic policies. The approach focuses on the causal relationships involved, mainly between variations in public spending/fiscal deficit and changes in economic activity’s indicators.

Idioma originalEnglish
Pàgines (de-a)421-441
Nombre de pàgines21
RevistaJournal of Economic Policy Reform
Volum26
Número4
DOIs
Estat de la publicacióPublicada - 21 de jul. 2023

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