The paper contributes to the recent growth models debate through a cross-country analysis
of growth drivers before and after the 2008 Global Financial Crisis (GFC). It argues that the …

This paper analyzes the performative impact of the European Commission's model for
estimating 'potential output', which is used as a yardstick for measuring the 'structural budget …

Most parts of the Euro area have seen seven years of deep economic crisis. The strategy of
tightening the fiscal constraints of the SGP has driven many member states into austerity. In …

Abstract The Excessive Deficit Procedure (EDP), central to the Stability and Growth Pact, has
been criticized from opposite ends. Some blame the EDP for imposing too much fiscal …

This paper analyses the short-run effects of fiscal consolidation measures on economic
activity in the euro area during the euro crisis. It presents new econometric estimates on the …

The combined effects of internal devaluation and fiscal consolidation policies implemented
in Greece between 2010 and 2019 are reflected in substantial levels of income contraction …

It is by now a widely shared insight that fiscal policy needs to be re-strengthened as a
macroeconomic policy instrument within European macroeconomic policies: Recent …

Fiscal policy in the Euro area is still dominated by austerity measures implemented under
the institutional setting of the “reformed” stability and growth pact, and the even stricter “fiscal …

The paper contributes to the recent growth models debate through a cross-country analysis
of macroeconomic growth drivers after the 2008 crisis. It examines the role of …

In this study we examine the impact of the European Stability and Growth Pact (SGP) on
narratively identified fiscal adjustments whose prime focus is to reduce the budget deficit …