This analysis makes use of economic forecasts for 2020 issued by the European
Commission in Autumn 2019 and Spring 2020, and of a counterfactual under a no-policy …

The global financial crisis and the ensuing criticism of macroeconomics have inspired
researchers to explore new modeling approaches. There are many new models that deliver …

We use a threshold VAR analysis to study the linkages between changes in the debt ratio,
economic activity and financial stress within different financial regimes. We use quarterly …

We analyse the impact of the COVID-19 crisis on EU households' income and assess the
cushioning effect of discretionary policy measures taken by the EU Member States. Our …

What were the effects of discretionary fiscal policy in Germany and the Euro area during the
global financial crisis? Were fiscal spillovers important? To address questions like these we …

Applying panel SVAR modelling to 1995–2017 regional data, we estimate fiscal multipliers
in Italy at national and sub‐national level and find that expansionary fiscal policies produce …

We build a factor-augmented interacted panel vector-autoregressive model of the Euro Area
(EA) and estimate it with Bayesian methods to compute government spending multipliers …

Greece experienced a boom until 2007, followed by a collapse of unprecedented magnitude
and persistence. We assess the sources of the boom and the bust, using a rich estimated …

Empirical studies support the hysteresis hypothesis that recessions have a permanent effect
on the level of output. We analyze the implications of hysteresis for fiscal policy in a DSGE …

With the free movement of labour in Europe, economic migration has become an important
determinant of labour supply. Cyclical migration exceeds one percent of the population in …