Matches in DBpedia 2016-04 for { <http://dbpedia.org/resource/Austerity> ?p ?o }
- Austerity abstract "In economics, austerity is a set of policies with the aim of reducing government budget deficits. Austerity policies may include spending cuts, tax increases, or a mixture of both. Austerity may be undertaken to demonstrate the government's fiscal discipline to their creditors and credit rating agencies by bringing revenues closer to expenditures.In most macroeconomic models, austerity policies generally increase unemployment in the short run, as government spending falls reducing jobs in the public or private sector or both, while tax increases reduce household disposable income and thus consumption. The U.S. Congressional Budget Office illustrated this when comparing unemployment under alternative fiscal scenarios.Unemployment increases safety net spending and further reduces tax revenues, partially offsetting the austerity measures. Government spending contributes to gross domestic product (GDP), so reducing spending may result in a higher debt-to-GDP ratio, a key measure of the debt burden carried by a country and its citizens. Higher short-term deficit spending (stimulus) contributes to GDP growth particularly when consumers and businesses are unwilling or unable to spend. This is because crowding out (i.e., rising interest rates as government bids against business for a finite amount of savings, slowing the economy) is less of a factor in a downturn, as there may be a surplus of savings.In the aftermath of the Great Recession, austerity results in Europe have been as predicted by macroeconomics, with unemployment rising to record levels and debt-to-GDP ratios rising, despite reductions in budget deficits relative to GDP. Eurostat reported that unemployment in the 17 Euro area countries (EA17) reached record levels in March 2013, at 12.1%, up from 11.0% in March 2012 and 10.3% in March 2011; and that the overall debt-to-GDP ratio for the EA17 was 70.1% in 2008, 80.0% in 2009, 85.4% in 2010, 87.3% in 2011, and 90.6% in 2012. Further, real GDP in the EA17 declined for six straight quarters from Q4 2011 to Q1 2013. The U.S. Congressional Budget Office estimated in August 2012 that if the U.S. implemented moderate austerity measures, the unemployment rate would rise by over 1% and economic growth would be significantly reduced in 2013. The U.S. partially avoided the \"fiscal cliff\" through the American Taxpayer Relief Act of 2012. U.S. unemployment has fallen steadily from a peak of 10% in early 2010 to 5.3% by July 2015.".
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- Austerity wikiPageWikiLink Adam_Smith.
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- Austerity wikiPageWikiLink Austerity.
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- Austerity wikiPageWikiLink Balanced_budget.
- Austerity wikiPageWikiLink Basis_point.
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- Austerity wikiPageWikiLink Carmen_Reinhart.
- Austerity wikiPageWikiLink Category:Austerity.
- Austerity wikiPageWikiLink Category:Fiscal_policy.
- Austerity wikiPageWikiLink Category:Macroeconomics.
- Austerity wikiPageWikiLink Category:Public_finance.
- Austerity wikiPageWikiLink Christine_Lagarde.
- Austerity wikiPageWikiLink Coefficient_of_determination.
- Austerity wikiPageWikiLink Congressional_Budget_Office.
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- Austerity wikiPageWikiLink Full_employment.
- Austerity wikiPageWikiLink Functional_finance.
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- Austerity wikiPageWikiLink Identity_(mathematics).
- Austerity wikiPageWikiLink Institute_for_New_Economic_Thinking.
- Austerity wikiPageWikiLink International_Monetary_Fund.
- Austerity wikiPageWikiLink International_financial_institutions.
- Austerity wikiPageWikiLink J._Bradford_DeLong.
- Austerity wikiPageWikiLink Jacobin_(magazine).
- Austerity wikiPageWikiLink John_Locke.
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- Austerity wikiPageWikiLink Laura_Tyson.
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- Austerity wikiPageWikiLink Lender_of_last_resort.
- Austerity wikiPageWikiLink Liberal_economists.
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- Austerity wikiPageWikiLink List_of_sovereign_states_and_dependent_territories_in_Europe.
- Austerity wikiPageWikiLink Macroeconomics.
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- Austerity wikiPageWikiLink Martin_Wolf.
- Austerity wikiPageWikiLink Merchant.
- Austerity wikiPageWikiLink Multiplier_(economics).
- Austerity wikiPageWikiLink Negative_equity.
- Austerity wikiPageWikiLink Neoliberalism.
- Austerity wikiPageWikiLink Nicoletta_Batini.
- Austerity wikiPageWikiLink Overseas_Development_Institute.
- Austerity wikiPageWikiLink Paradox_of_thrift.
- Austerity wikiPageWikiLink Paul_Krugman.
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- Austerity wikiPageWikiLink Richard_Koo.
- Austerity wikiPageWikiLink Sectoral_balances.
- Austerity wikiPageWikiLink Socialist_Party_(France).
- Austerity wikiPageWikiLink Stimulus_(economics).
- Austerity wikiPageWikiLink Structural_adjustment.
- Austerity wikiPageWikiLink Supermajority.