Fiscal policy was more countercyclical during the Covid-19 crisis than in previous (crisis)
episodes. This paper presents empirical evidence in favour of a “this time truly is different” …

This paper investigates the role of fiscal rules in managing public debt, particularly focusing
on their efficacy during different phases of economic cycles. Analyzing Balance …

How should small states formulate a countercyclical fiscal policy to achieve economic
stability and fiscal sustainability when they are prone to natural disasters, climate change …

This paper studies the volatility of fiscal policy in a large sample of countries with a focus on
emerging markets and developing economies and commodity exporters over 1990–2021 …

Much has happened in the three countries of the South Caucasus-namely, Azerbaijan,
Georgia, and Armenia-since the collapse of the Soviet Union. Political events, institutional …

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

The challenges of crisis phenomena can lead to a radical transformation in the stance of
public finance and affect the opportunities for economic development. Since the instruments …

The world economy was slowing prior to the onset of the Covid-19 pandemic. The slowdown
began after a record-long period of expansion marked with record lows in unemployment …

The revisions implemented twice a year by the European Commission significantly change
not only the forecasts but also the past values of the output gap. Consequently, many …

This paper expands the analysis of the cyclical characteristics of social spending by
providing information on its joint behaviour across OECD countries. With this aim we …