Naslov
Fiscal austerity policy impact on welfare

Autori
Pržiklas Družeta, Romina ; Škare, Marinko

Izvornik
Review of innovation and competitiveness (1849-8795) 3 (2017), 1; 95-118

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, pregledni rad, znanstveni

Ključne riječi
Fiscal austerity, Economic growth, Welfare, Sustainability

Sažetak
The ongoing global financial and economic crisis has caused a dramatic fall in growth, increased deficit, higher unemployment rates and strong price fluctuations. To achieve a balanced budget and reduce the national debt, the most of the national government have sacrificed the employment - one of the main indicators that reflect societies’ well-being and implemented fiscal austerity policy. The aim of this paper is to contribute to the literature on this topic and assess the short analysis of fiscal consolidation. Despite the ongoing debate and numerous studies no consensus about whether and when austerity is likely to be beneficial has been achieved. Further, there are still open issues to understand the impact of austerity on poverty and welfare because of the difficulty of defining poverty and welfare also. The main conclusion is that the emphasis should be placed on correctly defining austerity methodology in a broader economic and social context.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA