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austerity

From Harrod to the Lack of Carrot

There is nothing worse than not-receiving a Nobel Prize in Economic Sciences because the candidate died too early. By and large, this was clearly what happened to Sir Henry Roy Forbes Harrod, who was born 124 years ago this day, on 13 February 1900. His intellectual legacy embraces a wide range of issues starting from smaller scale problems (e.g. whether credits tend to affect perversively the general price level, Se
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Message in a Battle – Austerity in Europe and Lessons for Central and Eastern European Member States

Kovács, O. (2013): Message in a Battle – Austerity in Europe and Lessons for Central and Eastern European Member States. News of the Month, ICEG European Center, November 2013, pp. 8-18. In this article we purport to illustrate why differential diagnosis is inevitable when it comes to fighting against the tide to gain control over indebtedness and dampen sovereign risk in European countries. To this end, we first loo
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Fiscal Consolidation in a Leaderless Global Economy

Kovács, O. (2013): Fiscal Consolidation in a Leaderless Global Economy. News of the Month, ICEG European Center, April 2013 pp. 4-9. The issue whether the austerity-driven crisis management can be regarded as an instructive way forward or not has been long discussed without reaching a broad consensus. Albeit there is a common view over the fact that injected and coordinated fiscal and monetary stimulus did nothing bu
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Thrown-up Stone? Facts and Trends in the XXIst Century

Kovács, O. (2011): Thrown-up Stone? Facts and Trends in the XXIst Century (Conference Report). Public Finance Quarterly, Vol. 56., No. 3. pp. 388-394.  
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Hungarian Parliament Passed the Budget Bill 2010

Kovács, O. (2009): Hungarian Parliament Passed the Budget Bill 2010 in December. News of the Month, ICEG European Center, November-December 2009 pp. 19-23. The paper aspires to answer the question of whether the started fiscal austerity is enough to place the Hungarian economy onto a more sustainable path. It is increasingly accepted that fiscal sustainability positively contributes to the economic growth in the long
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