The fiscal policy response to the COVID‐19 crisis was swift and strong, in tandem with
monetary policy. Advanced economies (AEs) deployed a much larger fiscal response than …

This paper offers a simple, tractable post-Keynesian model, which highlights the importance
of structural change and productive development in defining the dynamics of the Real …

This paper empirically examines which factors have influenced numerical compliance with
fiscal rules in Latin American and Caribbean countries over the period 2000 to 2020. We …

Public investment in advanced economies is at historical lows, following a declining trend
since the 1980s. Two main hypotheses have been posed to explain this evolution:(i) the …

A frequently neglected aspect of financial booms and busts-financial cycles-is their impact
on fiscal positions. And yet, the latest financial crisis and history show that these cycles can …

This paper explores the dynamic relationship among defense and non-defense government
spending, the government debt, and the output gap in the United States. We estimate …

Government spending policy has an important macroeconomic stabilization role. We
empirically revisit the computation of fiscal cyclicality measures by employing a novel time …

Fiscal sustainability remains a paramount challenge for small economies with high debt and
greater vulnerability to climate change. This paper applies the model-based fiscal …

In this paper, we argue that the effect of monetary and fiscal policies on the exchange rate
depends on the fiscal regime. A contractionary monetary (expansionary fiscal) shock can …

Latin American countries experienced important changes in the 2000s. The implementation
of fiscal reforms, public debt reduction and the high level of accumulated reserves gave …