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fiscal consolidation

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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Austerity vs. Stimulus – The Debate Continues

In one of his last columns, Lord Skidelsky argued that fiscal stimulus is in order given the current status of affairs of the global economy, especially the United States (Skidelsky, 2013). Why Lord Skidelsky does recommend stepping aside our threats from deficits and accumulating public debt and trying to re-invigorate the states development function through fiscal stimulus? At first blush, the question of “why” has
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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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Innovative Fiscal Policy in the Context of Sustainability

Kovács, O. (2011): Innovative Fiscal Policy in the Context of Sustainability. In: Hanna, L. – Vehmas, J. (2011): Trends and Future of Sustainable Development Conference Proceedings. Proceedings of the Conference “Trends and Future of Sustainable Development” 9-10 June 2011, Tampere, Finland. pp. 274-286 Our article addresses the question of what kind of fiscal policy could properly contribute to the requirements of f
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