What are the arguments against and in favour of “austerity “ in the policy debate?

Paper instructions:
Papers should have an introduction, main text and conclusions. Proper references should be listed at the end of the paper in an alphabetical order. Relevant page numbers have to be marked. Citations must include their exact

sources. You may include footnotes. All sources of data, including the ones used in charts must be documented. The data used in charts should be delivered to me as excel file,
time or data series have to described.

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