Garcia, Pablo; Jacquinot, Pascal; Lenarčič, Črt; … - 2021
This paper analyses the effects of the COVID-19 pandemic shock on small open economies in a monetary union with an … COVID-19 pandemic. The main messages are as follows. First, fiscal spillovers from the rest of the monetary union do matter … lifetimes, the responses of output and inflation are amplified compared to the case with infinitely lived households. Finally, a …