Abstract
With European governments cutting back on spending, many are asking whether this could make matters worse. In the UK for instance, recent OECD estimates suggest that “austerity” will lead to another recession, which in turn may lead to a higher debt-to-GDP ratio than before. As the debate heats up, the following two articles attempt to provide some cool economic logic.
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Gros, D., Maurer, R. Can austerity be self-defeating?. Intereconomics 47, 175–184 (2012). https://doi.org/10.1007/s10272-012-0418-7
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DOI: https://doi.org/10.1007/s10272-012-0418-7