The current debt crisis has given rise to a debate about deeper fiscal integration in Europe. The view is widespread that moving towards a 'fiscal union' would have a stabilising effect in the event of macroeconomic shocks. In this paper we study the economic effects of introducing two elements...

This paper analyzes the effectiveness of the tax and transfer systems in the European Union and the US to act as an automatic stabilizer in the current economic crisis. We find that automatic stabilizers absorb 38 per cent of a proportional income shock in the EU, compared to 32 per cent in the...

This paper investigates to what extent the tax and transfer systems in Europe protect households at different income levels against losses in current income caused by economic downturns like the present financial crisis. We use a multi country micro simulation model to analyse how shocks on...

This paper analyzes the effectiveness of social protection systems in Europe and the US to provide (income) insurance against macro level shocks in terms of automatic stabilizers. We find that automatic stabilizers absorb 38% of a proportional income shock and 47% of an idiosyncratic...

The Public Expenditure and Financial Accountability (PEFA) assessment aims to provide the government of Albania with an objective up-to-date diagnostic of the national public financial management (PFM) performance based on the latest PEFA methodology. The assessment establishes a new PEFA...

This report reviews selected issues in public expenditures for education in Moldova. It is the product not of a comprehensive analysis that would comprise a full-fledged Public Expenditure Review (PER), but from a review of key elements related to financing of the education sector as a whole,...

Reducing all forms of malnutrition, including stunting, is central to the World Bank Group's twin goals of ending extreme poverty and promoting shared prosperity, as well as building resilience and preventing instability. Maternal and child under nutrition is estimated to be responsible for...

The objective of this Systematic Country Diagnostic (SCD) is to describe the current development challenges facing Sierra Leone and offer a set of priority areas of intervention to further the twin goals of reducing extreme poverty and boosting shared prosperity. The SCD is designed to be an...

The International Comparison Program (ICP) is a worldwide statistical initiative led by the World Bank under the auspices of the United Nations Statistical Commission. It produces comparable price and volume measures of gross domestic product (GDP) and its expenditure aggregates across...