Publication: A multi-country analysis of austerity policies in the European Union
| dc.contributor.author | Bajo Rubio, Óscar | |
| dc.contributor.author | Gómez Gómez-Plana, Antonio | |
| dc.contributor.department | Ekonomia | eu |
| dc.contributor.department | Institute for Advanced Research in Business and Economics - INARBE | en |
| dc.contributor.department | Economía | es_ES |
| dc.date.accessioned | 2022-01-10T11:14:21Z | |
| dc.date.available | 2022-01-10T11:14:21Z | |
| dc.date.issued | 2021 | |
| dc.description.abstract | We analyse the global effects from the austerity policies recently implemented in the EU, by developing an extension of the GTAP general equilibrium model. The extended model incorporates a new specification of the trade balance (i.e. endogenous), the labour market (i.e. unemployment under a wage curve framework) and the public sector (i.e. split from the representative national agent, with endogenous expenditure and savings). Three alternative policies aimed to get a one percentage point reduction in the EU’s government deficit to GDP ratio are simulated, and their effects on the main macroeconomic variables of seven regions of the world economy are examined. The three policy measures led to contractionary effects on the EU’s activity levels, together with changes in income distribution, always detrimental to labour. The effects on the rest of the world, driven by changes in trade flows, were, however, mostly negligible. | en |
| dc.description.sponsorship | University of Castilla-La Mancha and European Regional Development Fund, Grant/Award Number: 2019-GRIN-26952; Spanish Ministry of Economy, Industry and Competitiveness, Grant/Award Number: ECO2016-78422-R and ECO2017-86054-C3-2-R | en |
| dc.format.extent | 32 p. | |
| dc.format.mimetype | application/pdf | en |
| dc.identifier.doi | 10.1111/twec.13173 | |
| dc.identifier.issn | 0378-5920 | |
| dc.identifier.uri | https://academica-e.unavarra.es/handle/2454/41676 | |
| dc.language.iso | eng | en |
| dc.publisher | Wiley | |
| dc.relation.ispartof | World Economy. 2021; 00:1–32. | |
| dc.relation.projectID | info:eu-repo/grantAgreement/AEI/Plan Estatal de Investigación Científica y Técnica y de Innovación 2013-2016/ECO2017-86054-C3-2-R/ES/ | en |
| dc.relation.publisherversion | http://doi.org/10.1111/twec.13173 | |
| dc.rights | © 2021 The Authors. Creative Commons Attribution-NonCommercial-NoDerivs License | en |
| dc.rights.accessRights | info:eu-repo/semantics/openAccess | |
| dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/4.0/ | |
| dc.subject | Austerity policies | en |
| dc.subject | European Union | en |
| dc.subject | Global economy | en |
| dc.title | A multi-country analysis of austerity policies in the European Union | en |
| dc.type | info:eu-repo/semantics/article | |
| dc.type.version | info:eu-repo/semantics/publishedVersion | en |
| dc.type.version | Versión publicada / Argitaratu den bertsioa | es |
| dspace.entity.type | Publication | |
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| relation.isAuthorOfPublication | 9de7173d-7c21-4f50-89be-b6124a210a73 | |
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