austerity

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    Debunking myths: Why austerity and structural reforms have had little to do with Ireland’s economic recovery

Debunking myths: Why austerity and structural reforms have had little to do with Ireland’s economic recovery

Ireland was one of the countries hardest hit by the financial crisis, however it has emerged with a strong recovery and now boasts the fastest pace of economic growth of any country in the Euro area. But what explains the Irish recovery and could it act as a model for other Eurozone states? Aidan Regan writes that contrary to […]

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    Why the lump of labour fallacy helps explain some countries being more anti-austerity than others

Why the lump of labour fallacy helps explain some countries being more anti-austerity than others

Why do citizens in some countries oppose austerity policies more forcefully than citizens in other states, even when the impact of such policies on living standards is relatively similar? Achim Kemmerling presents a psychological explanation for this variation in opinions across Europe. He argues that countries with a stronger belief in the ‘zero-sum’ nature of labour markets are more […]

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    EU governments must avoid scapegoating the public sector for Europe’s economic problems

EU governments must avoid scapegoating the public sector for Europe’s economic problems

How have different European countries implemented austerity measures since the financial crisis? Andrea Müller, Irene Ramos-Vielba, Werner Schmidt, Annette Thörnquist and Christer Thörnqvist write on developments within four countries: Germany, Spain, Sweden and the UK. They argue that there is little evidence to suggest that the failure to modernise the public sector in these countries was a key driver […]

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    The ECB should focus on the threat of deflation rather than maintaining austerity

The ECB should focus on the threat of deflation rather than maintaining austerity

The European Central Bank will hold its latest policy meeting today. Ahead of the meeting, David Woodruff writes that while growth has resumed in the Eurozone, there are still serious problems across the single currency area, with unemployment at exceptionally high levels in several countries. He argues that the ECB’s primary focus should be on preventing deflation, and that […]

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Public spending cuts in Spain have been more severe in those areas under the control of regional governments

Spain has pursued an austerity programme as part of its response to the financial crisis. Jacint Jordana compares spending cuts in areas under the control of regional governments, including the bulk of health and education spending, with areas controlled at the national level, such as pensions and welfare. He argues that due to a 2009 law on decentralised public finances, […]

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    Land value taxation could help to finance low-carbon infrastructure projects in cities suffering from austerity budgets

Land value taxation could help to finance low-carbon infrastructure projects in cities suffering from austerity budgets

Many cities across Europe have had budgets for local services and infrastructure projects cut as a result of the financial crisis. Blanca Fernandez writes on the potential for land value taxation, in which taxes are collected on the basis of the value of land rather than simply on property, to help fund low-carbon infrastructure in cities. She argues that land […]

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