EU governments have individually embraced severe austerity programmes in an effort to avoid becoming the next Portugal. This column presents results from the National Institute Global Econometric Model suggesting that these individually rational polices are leading to collective folly. Keynes’ 'paradox of thrift' is in full swing since EU nations continue to act like small open economies while in fact they are a large closed economy.
Most Read
Vox eBooks
Vox Talks
Events
-
29 - 30 August 2019 / Galatina, Italy /
-
4 - 5 September 2019 / Roma Eventi, Congress Center, Pontificia Università Gregoriana Piazza della Pilotta, 4, Rome, Italy / European Center of Sustainable Development , CIT University
-
9 - 14 September 2019 / Guildford, Surrey, UK / The University of Surrey
-
16 - 17 September 2019 / Oslo / Danmarks Nationalbank, Deutsche Bundesbank and Norges Bank
-
16 - 17 September 2019 / Essen, Germany / Centre for Research and Analysis of Migration (CReAM), University College London and RWI – Leibniz Institute for Economic Research
