A timely and incisive look at austerity measures that succeed—and those that don’t. Fiscal austerity is hugely controversial. Opponents argue that it can trigger downward growth spirals and become self-defeating. Supporters argue that budget deficits have to be tackled aggressively at all times and at all costs. In this masterful book, three of today’s leading experts – Alberto Alesina, Carlo Favero and Francesco Giavazzi – cut through the political noise to demonstrate that there is not one type of austerity but many.
Marcel Fratzscher | DIW Berlin
Francesco Giavazzi is Professor of Economics at Bocconi University.
Marcel Fratzscher is Professor of Macroeconomics and Finance at Humboldt-University Berlin, and President of DIW Berlin.
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