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Fiscal Policy in Crisis: Rethinking Austerity

Dubravko Radošević ; Institute of Economics, Zagreb and is Associate Professor at the University of Zagreb, Croatia

Puni tekst: engleski, pdf (777 KB) str. 45-60 preuzimanja: 592* citiraj
APA 6th Edition
Radošević, D. (2012). Fiscal Policy in Crisis: Rethinking Austerity. Zagreb International Review of Economics & Business, 15 (2), 45-60. Preuzeto s https://hrcak.srce.hr/93380
MLA 8th Edition
Radošević, Dubravko. "Fiscal Policy in Crisis: Rethinking Austerity." Zagreb International Review of Economics & Business, vol. 15, br. 2, 2012, str. 45-60. https://hrcak.srce.hr/93380. Citirano 04.12.2021.
Chicago 17th Edition
Radošević, Dubravko. "Fiscal Policy in Crisis: Rethinking Austerity." Zagreb International Review of Economics & Business 15, br. 2 (2012): 45-60. https://hrcak.srce.hr/93380
Harvard
Radošević, D. (2012). 'Fiscal Policy in Crisis: Rethinking Austerity', Zagreb International Review of Economics & Business, 15(2), str. 45-60. Preuzeto s: https://hrcak.srce.hr/93380 (Datum pristupa: 04.12.2021.)
Vancouver
Radošević D. Fiscal Policy in Crisis: Rethinking Austerity. Zagreb International Review of Economics & Business [Internet]. 2012 [pristupljeno 04.12.2021.];15(2):45-60. Dostupno na: https://hrcak.srce.hr/93380
IEEE
D. Radošević, "Fiscal Policy in Crisis: Rethinking Austerity", Zagreb International Review of Economics & Business, vol.15, br. 2, str. 45-60, 2012. [Online]. Dostupno na: https://hrcak.srce.hr/93380. [Citirano: 04.12.2021.]

Sažetak
Many macroeconomists and politicans claim that fi scal austerity – getting the budget deficit down immediately – would be good for employment and growth. We think that fiscal stimulus is expansionary, and fi scal contraction is contractionary. There is a large and growing body of literature that shows that fi scal expansion can help economy to grow and reduce unemployment in near term; that certain types of fi scal stimulus are very effective and that fi scal contractions tend to lower output and employment in the short run. Fiscal
austerity may be desirable for the long-term solvency and health of the economy. But it lowers growth and raises unemployment in the near term. A policy mix between new monetary strategy (nominal GDP targeting) and fi scal stimulus would be especially effective.

Ključne riječi
austerity; stimulus; NGDP targeting; fiscal multiplier; full employment

Hrčak ID: 93380

URI
https://hrcak.srce.hr/93380

Posjeta: 1.092 *