Using a panel of 86 advanced and emerging market economies over the period 1985–2020,
we investigate the short-to-medium term effects of fiscal rules on primary balances. We …

This paper investigates household leverage-dependent fiscal policy effects in a two-agent
New Keynesian DSGE model with occasionally binding borrowing constraints. Our model …

Utilizing data from 133 countries over the period 1950–2014, we identify fiscal space as a
key factor underlying the cyclicality of fiscal policies. We find that less fiscal space induces …

Distributional consequences of fiscal austerity, while being increasingly recognized in the
policy debate, have received little attention in the existing formal work. This paper proposes …

This study investigates whether household indebtedness influences the macroeconomic
effects of US tax changes. By applying a state-dependent local projection method to the …

We develop a multi-country general equilibrium model featuring (i) migration flows across
borders;(ii) explicit supply chain networks both across sectors and across countries;(iii) …

The aim of the paper is to estimate the impact of the rapid worsening of households' access
to credit in Poland on the effects of fiscal policy. The novelty of our study is that it extends the …

The paper provides fresh evidence on the dynamics of public expenditure multipliers and
the factors explaining them. The findings of this paper may facilitate the policymakers in …

Since 2010, and in line with austerity measures, public employment and public‐sector
compensations to employees have been significantly reduced in most Euro Area member …

This paper adds to the existing literature by examining the macroeconomic, political and
institutional determinants of tax policy cyclicality conditional on financial development. We …