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Les infortunes de l'austérité. Rétablir la dépense publique pour retrouver la prospérité et la justice sociale, et préparer l'avenir

Abstract : This report is a reminder that the scientific foundations of austerity are almost non-existent, especially in a context where interest rates are at rock bottom. It points out that, from the mid-2000s, even the orthodox proponents of the “new consensus” began to rediscover that the multiplier, one of the foundations of Keynesian theory, does indeed exist. This report draws on Keynesian analysis to remind that public spending plays a fundamental role in the dynamics of modern economies, in the short term as well as in the long term. Section 2. provides elements of descriptive statistics on public expenditure. Section 3. develops a Keynesian macroeconomic analysis of public spending. Section 4 sets out, both theoretically and empirically, the opposition between the multiplier effect and the crowding out effect. Section 5. discusses the main issues around public debt. Section 6 outlines a political economy of public expenditure and section 7 concludes.
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https://halshs.archives-ouvertes.fr/halshs-02955439
Contributor : Bruno Tinel <>
Submitted on : Thursday, October 1, 2020 - 9:05:50 PM
Last modification on : Tuesday, January 19, 2021 - 11:08:38 AM
Long-term archiving on: : Monday, January 4, 2021 - 8:47:49 AM

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Bruno Tinel. Les infortunes de l'austérité. Rétablir la dépense publique pour retrouver la prospérité et la justice sociale, et préparer l'avenir. [Rapport de recherche] IRES. 2020. ⟨halshs-02955439⟩

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