8. The “Austerity Myth”: Gain without Pain?

Chapters in this book

1. Frontmatter i
2. Contents vii
3. Acknowledgments ix
4. Introduction 1
5. 1. Government Spending and Private Activity 19
6. 2. Fiscal Multipliers in Recession and Expansion 63
7. 3. The Household Effects of Government Spending 103
8. 4. The Role of Growth Slowdowns and Forecast Errors in Public Debt Crises 151
9. 5. Game Over: Simulating Unsustainable Fiscal Policy 177
10. 6. How Do Laffer Curves Differ across Countries? 211
11. 7. Perceptions and Misperceptions of Fiscal Infl ation 255
12. 8. The “Austerity Myth”: Gain without Pain? 307
13. 9. Can Public Sector Wage Bills Be Reduced? 359
14. 10. Entitlement Reforms in Europe: Policy Mixes in the Current Pension Reform Process 405
15. 11. “Fiscal Devaluation” and Fiscal Consolidation: The VAT in Troubled Times 443
16. 12. Fiscal Rules: Theoretical Issues and Historical Experiences 495
17. 13. The Electoral Consequences of Large Fiscal Adjustments 531
18. Contributors 573
19. Author Index 577
20. Subject Index 583