Cornel Ban and Daniela Gabor “The Politics of Collateral Damage: Finance and Varieties of Capitalism in the Eurozone Crisis” forthcoming)

“Constructivist political economists argue that the analysis of policy shifts should focus on the political battles that define the origins of crises and the solutions that are institutionally available (Widmaier, Blyth and Seabrooke 2007: 748; Blyth 2002; 2012; Lindwall 2009; 2011; Mandelkern and Shalev 2012; Biswas 2011; Vali 2011; Hay 2011; Schmidt 2011; Carstensen 2011; Radula and Kattel 2011; Ban 2011; Bell 2012; Matthijs 2012; Yee 2012; Widmeier and Park 2012; Baker 2012; Finlayson 2012). When applied to the fiscal outcomes studied in this paper, the constructivist approach yields the hypothesis that the adoption of austerity measures throughout the Eurozone has been the result of the victory of anti-Keynesian ideas in pivotal nodes of the European policy field. Specifically, they seek for evidence of the intellectual skepticism of New Consensus…

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