This paper presents a comprehensive cross-country database of fiscal space, broadly
defined as the availability of budgetary resources for a government to service its financial …

This paper compares fiscal cyclicality across advanced and developing countries,
geographic regions as well as income levels over 1960–2016 period, then identifies factors …

This paper uses the onset of COVID-19 to examine how countries construct their policy
packages in response to a severe negative shock. We use several new datasets to track the …

We empirically assess the relative importance of various economic fundamentals in
accounting for the sovereign credit default swap (CDS) spreads of emerging markets during …

This paper revisits the relationship between debt and growth from a vantage point that
considers the totality of private and public debt. We exploit quarter-long timing lags inherent …

This paper investigates the association between greater income inequality, de-facto fiscal
space, and sovereign spreads. Using data from 50 countries in 2007, 2009 and 2011, we …

This paper investigates empirically the effect of tax reform on fiscal space in developing
countries. The analysis has used an unbalanced panel dataset comprising 99 developing …

It is useful to begin a discussion of the euro crisis by facing up to the problems inherent in
monetary union. One possible view is that the inherent difficulties were so great that the euro …

Existing literature suggests that fiscal space matters for the policy response to financial
crises. High public debt levels limit countries capacity to pursue macroeconomic and …

The prolonged sluggishness in the world economy since the global financial crisis has led to
growing calls for a reorientation of macroeconomic policies toward more supportive fiscal …