Austerity
When It Works and When It Doesn't
Alberto Alesina|Carlo Favero|Francesco Giavazzi
The book examines the economic policy of austerity through empirical data, analyzing its effects on debt reduction and economic growth across different countries. It challenges the conventional wisdom that fiscal consolidation is always harmful to economies, arguing that austerity can be effective when focused on spending cuts rather than tax increases, and when implemented during periods of economic growth.
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