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1 Introduction Austerity Four Constributions of this book The punchline in a nutshell Organization of the book 2 Theory Introduction The Simple keynesian model The future Confidence and uncertainty Austerity and the business cycle Multiyear plans Incentives and the supply side Accompanying policies Conclusions 3 Expansionary and recessionary austerity up to the financial crisis of 2008 Introduction Expansionary Auterity Recessionary austerity Conclusions 4 Measuring the effects of fiscal policy Introduction The empirical evidence Multiplies during austerity: the early literature The narrative approach Conclusions 5 Fiscal Plans Introduction Constructing fiscal plans Measuring the effects of fiscal plans Conclusions 6 The data Introduction: a broad look at our data The data in more ddetail Other data and sources Conclusions 7 The effcts of austerity Intoduction Taxes versus expenditures The role of accompanying policies An alternative specification Why do EB and TB plans have different effects? Conclusions 8 European Austerity during the Great Recession Introduction Europe in the aftermath of the financiinal crisis European austerity Evaluting European austerity in 2010-14 The Greek tragedy Did fiscal multipliers cahnge after the crisis? Conclusions 9 When Austerity? Introduction Fiscal policy in booms and recessions "How" and "When" The "When" and the "How" together Auterity at the zero lower bound Conclusions 10 Austerity and Elections Introduction Existing Evidance Fiscal plans elections A few examples Discussion Conclusions 11 Conclusions 12 The Models in Our Book: A User's Guide Introduction Why simulating models? a simple example Our empirical models: an overview The models used in the literature to measure multipliers The models in Chapter 7 Fiscal adjustments and the dynamiscs of debt over GDP TB versus EB auterity ina General Equilibrium Model Reconsidering blanchard and leigh (2014) in chapter 8 The model of "how" and "when" in chapter 9 Who adjusts and who wins: more detail on the model for chapter 10