Details
| Translated title of the contribution | Austerity Policies in the European Monetary Union: Review and Perspectives |
|---|---|
| Original language | German |
| Pages (from-to) | 231-248 |
| Number of pages | 18 |
| Journal | Wirtschaftsdienst |
| Volume | 95 |
| Issue number | 4 |
| Publication status | Published - 18 Apr 2015 |
Abstract
The authors express different opinions about the outcomes of austerity policies. They do not even agree on the number of states that adopted austerity policies, as measured by deficit and debt ratios. However, most of the authors consider that austerity in Greece has failed due to the lack of political will and the lack of a functioning administration, which obstructs the reform process complementary to austerity policies. Another reason for the failure of austerity policies is probably a delayed and insufficient debt restructuring in Greece — a lesson which should be taken on board for future adjustment programmes. Apart from economic effects, a continuation of austerity policies in Southern Europe would further damage the social structures and political cultures of the respective countries. Therefore, one author suggests a jointly conducted exit from the eurozone of countries with high effective overvaluations, combined with solidaristic transfers during the period of transition.
ASJC Scopus subject areas
- Business, Management and Accounting(all)
- Business, Management and Accounting (miscellaneous)
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In: Wirtschaftsdienst, Vol. 95, No. 4, 18.04.2015, p. 231-248.
Research output: Contribution to journal › Article › Research › peer review
}
TY - JOUR
T1 - Austeritätspolitik in der Europäischen Währungsunion
T2 - Bilanz und Perspektiven
AU - Homburg, Stefan
AU - Dullien, Sebastian
AU - Höpner, Martin
AU - Schrader, Klaus
AU - Schettkat, Ronald
PY - 2015/4/18
Y1 - 2015/4/18
N2 - The authors express different opinions about the outcomes of austerity policies. They do not even agree on the number of states that adopted austerity policies, as measured by deficit and debt ratios. However, most of the authors consider that austerity in Greece has failed due to the lack of political will and the lack of a functioning administration, which obstructs the reform process complementary to austerity policies. Another reason for the failure of austerity policies is probably a delayed and insufficient debt restructuring in Greece — a lesson which should be taken on board for future adjustment programmes. Apart from economic effects, a continuation of austerity policies in Southern Europe would further damage the social structures and political cultures of the respective countries. Therefore, one author suggests a jointly conducted exit from the eurozone of countries with high effective overvaluations, combined with solidaristic transfers during the period of transition.
AB - The authors express different opinions about the outcomes of austerity policies. They do not even agree on the number of states that adopted austerity policies, as measured by deficit and debt ratios. However, most of the authors consider that austerity in Greece has failed due to the lack of political will and the lack of a functioning administration, which obstructs the reform process complementary to austerity policies. Another reason for the failure of austerity policies is probably a delayed and insufficient debt restructuring in Greece — a lesson which should be taken on board for future adjustment programmes. Apart from economic effects, a continuation of austerity policies in Southern Europe would further damage the social structures and political cultures of the respective countries. Therefore, one author suggests a jointly conducted exit from the eurozone of countries with high effective overvaluations, combined with solidaristic transfers during the period of transition.
KW - E62
KW - F45
KW - H63
UR - http://www.scopus.com/inward/record.url?scp=84928391064&partnerID=8YFLogxK
U2 - 10.1007/s10273-015-1813-z
DO - 10.1007/s10273-015-1813-z
M3 - Artikel
AN - SCOPUS:84928391064
VL - 95
SP - 231
EP - 248
JO - Wirtschaftsdienst
JF - Wirtschaftsdienst
SN - 0043-6275
IS - 4
ER -