eprintid: 10053745 rev_number: 18 eprint_status: archive userid: 608 dir: disk0/10/05/37/45 datestamp: 2023-08-07 14:29:49 lastmod: 2023-08-18 09:25:28 status_changed: 2023-08-07 14:29:49 type: website metadata_visibility: show creators_name: Ji, Y creators_name: Paul, DG title: Panic-driven austerity in the Eurozone and its implications divisions: UCL divisions: A01 divisions: B03 divisions: D92 note: This version is the version of record. For information on re-use, please refer to the publisher’s terms and conditions. abstract: Eurozone policy seems driven by market sentiment. This column argues that fear and panic led to excessive, and possibly self-defeating, austerity in the south while failing to induce offsetting stimulus in the north. The resulting deflation bias produced the double-dip recession and perhaps more dire consequences. As it becomes obvious that austerity produces unnecessary suffering, millions may seek liberation from ‘euro shackles’. date: 2013-02-21 date_type: published publisher: Centre for Economic Policy Research (CEPR) official_url: https://voxeu.org/article/panic-driven-austerity-eurozone-and-its-implications full_text_type: pub language: eng verified: verified_manual elements_id: 1573221 lyricists_name: Ji, Yuemei lyricists_id: YJIXX03 actors_name: Ji, Yuemei actors_id: YJIXX03 actors_role: owner full_text_status: restricted citation: Ji, Y; Paul, DG; (2013) Panic-driven austerity in the Eurozone and its implications. [Digital scholarly resource]. https://voxeu.org/article/panic-driven-austerity-e... <https://voxeu.org/article/panic-driven-austerity-eurozone-and-its-implications> document_url: https://discovery.ucl.ac.uk/id/eprint/10053745/1/Panic-driven%20austerity%20in%20the%20Eurozone%20and%20its%20implications%20_%20VOX%2C%20CEPR%20Policy%20Portal.pdf