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Greece: signs of growth come as austerity eases

Last month the Greek parliament approved a stimulus programme involving highway construction that is quite large. According to the ministry of infrastructure, transport, and networks, total spending on this project will be €7.5bn over the next year and a half. This amounts to about 2.7% of GDP during this period.

Portugal Sets New Stimulus After Setback

Italy approves fresh multi-billion-euro stimulus plan

Ireland stimulus package aims to create up to 13,000 jobs

Spain Prepares $8.6 Billion Economic Stimulus Package

Did this all happen? What effect did it have?

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  • $\begingroup$ Evaluating effect of state-wise policies is difficult because one lacks the counterfactual (what if we didn't do this policy). Best example for this was when Obama's fiscal policy (under the economic leadership of Krugman, iirc) didn't reduce the unemployment rate as much as promised. Krugman then just exclaimed "yes, but our estimates of the unemployment rate of the counterfactual were wrong". Our policies helped, things would've been even worse if we didn't do it. $\endgroup$ – FooBar Jan 4 '16 at 19:08
  • $\begingroup$ @FooBar Krugman never worked in the Obama administration, though the two have agreed on many issues. $\endgroup$ – dismalscience Jan 4 '16 at 21:54

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