How should fiscal policy be conducted in the presence of default risk? We address this question using a sovereign default model with nominal rigidities. An increase in government spending during a recession stimulates economic activity and reduces unemployment. Because the government lacks commitment to future debt repayments, expansionary fiscal policy increases sovereign spreads, making the f...

While the global financial crisis started on the American continent, Greece has felt the biggest shock. As a result of government-imposed austerity measures following the implementation of the Memorandum of Understanding,* population health and the health sector have been impacted. This adds a burden to the national health system (NHS), already facing compromised efficiency and effectiveness. C...

We are happy to announce the second cluster of papers around the economic crisis and its impact on health in Europe in our journal, the International Journal for Equity in Health. Nine empirical articles and two commentaries are included in this volume. This important amount of research points to the relevance of continuing to monitor the health impacts of the economic crisis in the European re...