International Monetary Fund Admits It Severely Underestimated Cost Of Austerity

International Monetary Fund Admits It Severely Underestimated Cost Of Austerity: The International Monetary Fund (IMF) released research today suggesting that it had significantly underestimated the damage European austerity would do to EU growth rates. The paper, by top researcher Olivier Blanchard and staff economist Daniel Leigh, surveyed IMF forecasts released in 2010, when many European nations implemented significant austerity measures. Most estimates assumed, roughly, that [...]/p