Alberto Alesina (19572020) was the Nathaniel Ropes Professor of Political Economy at Harvard University. He is the author, with Francesco Giavazzi, of The Future of Europe: Reform or Decline. Carlo Favero is the Deutsche Bank Chair in Quantitative Finance and Asset Pricing at Bocconi University in Italy. He is the author of Applied Macroeconometrics. Francesco Giavazzi is professor of economics at Bocconi University.
"Winner of the Hayek Book Prize, Manhattan Institute"
"One of the Financial Times' Summer Books of 2019: Economics"
"A Project Syndicate Best Read in 2019"
"This book is timely in offering an alternative view. . . . Read
this book as an antidote to the calls for governments to give up on
fiscal discipline."---Chris Giles, Financial Times
"It’s an impressive study of nearly 200 episodes of fiscal
consolidation in the rich world to understand what’s the best way
to go about it. The answer—cutting spending is better than raising
taxes—isn’t entirely new, but the supporting evidence is compelling
and it will take an equally deep study to make the opposite
case."---Ferdinando Giugliano, Bloomberg Opinion
"Austerity is a towering scholarly achievement, embodying decades
of research and destined to serve as a touchstone for future
studies—both by those who will build on it and by those who will
try to tear it down."---Ken Rogoff, Project Syndicate On Point
"This is an extremely important book."---Martin Wolf, Financial
Times, Summer Books of 2019
"An important work for economists, policymakers, politicians, and
engaged citizens. . . . One of the clearest and best researched
treatments of fiscal policy available. And though not quite
suitable for the beach, it’s remarkably readable. . . . It should
be required reading."---Milton Ezrati, City Journal
"A towering scholarly achievement."---Kenneth Rogoff, Project
Syndicate
"An ambitious book. . . . if you’re looking for a comprehensive
discussion of austerity policies, this is the book for
you."---James Smith, Society of Professional Economists
"Every chapter in this book is thorough, informative, and
persuasive. . . . Without doubt, this is an important
book."---Geoffrey Wood, Central Banking Journal
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