<p><a href="http://www.theguardian.com/commentisfree/2014/jan/22/greece-growth-austerity-eases-europe-imf" rel="nofollow">Greece: signs of growth come as austerity eases</a> </p>

<blockquote>
  <p>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.</p>
</blockquote>

<p><a href="http://www.wsj.com/articles/SB10001424127887324235304578441051599031988" rel="nofollow">Portugal Sets New Stimulus After Setback</a></p>

<p><a href="http://Euobserver.com/economic/28384" rel="nofollow">Italy approves fresh multi-billion-euro stimulus plan</a></p>

<p><a href="http://%20Bbc.co.uk/news/world-europe-18878041" rel="nofollow">Ireland stimulus package aims to create up to 13,000 jobs</a></p>

<p><a href="http://wsj.com/articles/spain-prepares-8-6-billion-economic-stimulus-package-1401550042" rel="nofollow">Spain Prepares $8.6 Billion Economic Stimulus Package</a></p>

<p>Did this all happen? What effect did it have?</p>

CC BY-SA 3.0
2016-01-04T19:08:48.703Z
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.
FooBar
CC BY-SA 3.0
2016-01-04T21:54:31.410Z
@FooBar Krugman never worked in the Obama administration, though the two have agreed on many issues.
dismalscience
<fiscal-policy>
Have all the PIIGS tried stimulus?
D J Sims
# Have all the PIIGS tried stimulus?

(Asked by: username_0 on 2016-01-03)

[Greece: signs of growth come as austerity eases](http://www.theguardian.com/commentisfree/2014/jan/22/greece-growth-austerity-eases-europe-imf)

> 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](http://www.wsj.com/articles/SB10001424127887324235304578441051599031988)

[Italy approves fresh multi-billion-euro stimulus plan](http://Euobserver.com/economic/28384)

[Ireland stimulus package aims to create up to 13,000 jobs](http://%20Bbc.co.uk/news/world-europe-18878041)

[Spain Prepares $8.6 Billion Economic Stimulus Package](http://wsj.com/articles/spain-prepares-8-6-billion-economic-stimulus-package-1401550042)

Did this all happen? What effect did it have?

**Tags:** fiscal-policy

> **Comments:**
> **username_1**: 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.  
> **username_2**: @username_1 Krugman never worked in the Obama administration, though the two have agreed on many issues.  

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## 0 answers

