Using real-time data, we examine whether fiscal policy has been counter-or procyclical in a
panel of 27 European Union (EU) member states over the period 2000–2015. We also …

Fiscal rules are argued to be important for sound and sustainable fiscal policies and have
been increasingly adopted over the last 20 years. As increased fiscal pressure and fiscal …

The COVID-19 pandemic provides a unique setting in which to evaluate the importance of a
country's fiscal capacity in explaining the relation between economic growth shocks and …

This paper estimates the causal effect of fiscal rules on fiscal balances in a panel of 142
countries over the period 1985–2015. Our instrumental variable strategy exploits the …

We examine whether fiscal rules' impact on fiscal performance depends on budget
transparency. Using panel data of 73 countries over the 2003–2013 period, we find that …

This paper estimates the effects of fiscal institutions on fiscal policy outcomes, addressing
issues related to measurement and endogeneity in a novel way. Recently developed …

European debates over reform of the fiscal governance of the euro area frequently reference
fiscal federalism in the United States. The" fiscal compact" agreed by the European Council …

This paper empirically examines how fiscal rules and tax autonomy influence deficits of sub-
national sectors across European countries. I use a new panel-data set to measure tax …

New indices of fiscal rule strength are constructed and, using a dynamic panel econometric
model for 27 EU countries over the period 1990–2012, we assess whether national fiscal …

This paper investigates the effects of (non-) compliance with national numerical fiscal rules
on fiscal policy in 11 EU member states with 23 fiscal rules in place from 1994 to 2012 …