EconPapers    
Economics at your fingertips  
 

The peculiar first semester of 2012

Antonio Barbosa () and Luis Nunes ()

FEUNL Working Paper Series from Universidade Nova de Lisboa, Faculdade de Economia

Abstract: Portugal was subjected in 2011 to one of the most stringent austerity packages implemented during the crisis, a package known as the troika program. The interpretation of the effects of this program gave space to a vivid confrontation between two opposing views. The Keynesian view stressed the contractionary effect on the economy and is well documented in the data that show a deterioration in the basic macro indicators. We believe, however, that the austerity package might have simultaneously provided an important and less often acknowledged ingredient to the recovery of the economy, namely an increase in the investors' confidence as expressed by a sustained decline in the yields in financial markets. This German view seems, therefore and to some extent, also present in the portuguese macro adjustment. JEL codes:

Pages: 10 pages
Date: 2018
New Economics Papers: this item is included in nep-eec
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://fesrvsd.fe.unl.pt/WPFEUNL/WP2018/Wp620.pdf
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to fesrvsd.fe.unl.pt:443 (Bad file descriptor) (http://fesrvsd.fe.unl.pt/WPFEUNL/WP2018/Wp620.pdf [302 Object moved]--> https://fesrvsd.fe.unl.pt/WPFEUNL/WP2018/Wp620.pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:unl:unlfep:wp620

Access Statistics for this paper

More papers in FEUNL Working Paper Series from Universidade Nova de Lisboa, Faculdade de Economia Contact information at EDIRC.
Bibliographic data for series maintained by Susana Lopes ().

 
Page updated 2020-02-15
Handle: RePEc:unl:unlfep:wp620