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Why Austerity Works and Stimulus Doesn’t

Aslund, Anders, (2013), ‘Why Austerity Works and Stimulus Doesn’t’, The Peterson Institute for International Economics, 7 Ιανουαρίου.

After five years of financial crisis, the European record is in: Northern Europe is sound, thanks to austerity, while Southern Europe is hurting because of half-hearted austerity or, worse, fiscal stimulus. The predominant Keynesian thinking has been tested, and it has failed spectacularly.”