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fiscal policy

August 9, 2021

Left-wing austerity during international crises – it’s the financial markets, stupid!

Damian Raess Surprisingly, left governments adopted more conservative fiscal policies than right governments in recent economic crises. Governments did not choose these policies freely; rather, the financial markets imposed them. Nonetheless, argues Damian Raess, they appear to have dire electoral consequences: left-leaning voters are increasingly voting with their feet Read more

July 26, 2021

The German Greens could transform not just German economic policy-making but the nature of the Eurozone itself

Gabriele Beretta The CDU is facing its first post-Merkel electoral campaign, and the SPD is struggling to gain more than a 15% vote share. The Greens, meanwhile, are the second largest party in Germany. The impact of their results on the new German government may be the Eurozone’s most important political development of 2021. Gabriele Beretta argues that this could also have dramatic macroeconomic consequences for the Euro Area Read more

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