Countries increasingly rely on independent fiscal councils to constrain policymakers'
discretion and curb the bias towards excessive deficits and pro-cyclical policies. Since fiscal …

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 …

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 …

This paper estimates the effect of the Maastricht treaty's fiscal criterion on the distribution of
EU countries' general government deficits. Using a treatment effects approach, we find that …

When using discretionary fiscal policies in the countries belonging to the European Union,
any change affecting the current fiscal stance must run into the boundary designed by fiscal …

La pandemia de 2020 conmocionó a un mundo ya sacudido por la desconfianza y la
polarización social. Se perdieron vidas y empleos a pesar de los enormes esfuerzos de los …

This paper presents empirical evidence of asymmetric fiscal policy along the business cycle,
using a real-time panel dataset on 19 OECD countries from 1997 to 2018. We estimate …

EU fiscal rules are meant to keep public finances on a sustainable path. This paper presents
a new database that tracks numerical compliance with the four main rules of the Stability and …

Public debt and its development are key questions of public sector economics and fiscal
policy. This paper uses the Synthetic Control Method to study how different large-scale steps …

EU fiscal rules are meant to keep public finances on a sustainable path. This paper presents
a new database that tracks numerical compliance with the four main rules of the Stability and …