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Kinda, Tidiane; Lengyel, Andras; Chahande, Kaustubh - 2022

Many countries have deployed substantial fiscal packages to cushion the economic fallout from the COVID-19 pandemic. A historical look at past pandemics and epidemics highlights concomitant public sector support in response to health crises. This paper assesses how fiscal multipliers could vary...

Persistent link: https://www.econbiz.de/10014079424

Fiscal Multipliers during Pandemics

Kinda, Tidiane; Lengyel, Andras; Chahande, Kaustubh - 2022

Persistent link: https://www.econbiz.de/10014079978

Tracking Economic and Financial Policies During COVID-19 : An Announcement-Level Database

Kirti, Divya; Liu, Yang; Martinez Peria, Maria Soledad; … - 2022

We introduce a new comprehensive announcement-level database tracking the extraordinary fiscal, monetary, prudential, and other policies that countries adopted in response to Covid-19. The database provides detailed information, including sizes where available, for 28 granular policies adopted...

Persistent link: https://www.econbiz.de/10014082213

The Rise in Inequality after Pandemics : Can Fiscal Support Play a Mitigating Role?

Furceri, Davide; Loungani, Prakash; Ostry, Jonathan D.; … - 2022

Major epidemics of the last two decades (SARS, H1N1, MERS, Ebola and Zika) have been followed by increases in inequality (Furceri, Loungani, Ostry and Pizzuto, 2020). In this paper, we show that the extent of fiscal consolidation in the years following the onset of these pandemics has played an...

Persistent link: https://www.econbiz.de/10013305662

U.S. And Euro Area Monetary and Fiscal Interactions During the Pandemic : A Structural Analysis

Hodge, Andrew; Jakab, Zoltan; Lindé, Jesper; Nguyen, … - 2022

“below, but close to 2 percent” to a formal symmetric inflation targeting regime in the euro area or from flexible to average … inflation targeting in the U.S. is shown to boost output and inflation in both regions. Meanwhile, the fiscal packages approved … output and inflation as changing the monetary policy frameworks . Simultaneously implementing these policies is mutually …

Persistent link: https://www.econbiz.de/10014237881

Fiscal Rules and Fiscal Councils : Recent Trends and Performance During the COVID-19 Pandemic

Davoodi, Hamid R.; Elger, Paul; Fotiou, Alexandra; … - 2022

Adoption of fiscal rules and fiscal councils continued to increase globally over the last decades based on two new global datasets. During the pandemic, fiscal frameworks were put to test. The widespread use of escape clauses was one of the novelties in this crisis, which helped provide policy...

Persistent link: https://www.econbiz.de/10013295144

Monitoring the Climate Impact of Fiscal Policy - Lessons from Tracking the Covid-19 Response

Eltokhy, Khaled; Funke, Katja; Huang, Guohua; Kim, Yujin; … - 2022

In the wake of the COVID-19 crisis, governments around the world announced unprecedented fiscal packages to address the economic impact of the crisis. The unusually large scale of the packages was accompanied by widespread calls for “greening” them to meet the dual goals of economic recovery...

Persistent link: https://www.econbiz.de/10013299319

Mexico Needs a Fiscal Twist : Response to COVID-19 and Beyond

Ahmed Hannan, Swarnali; Honjo, Keiko; Raissi, Mehdi - 2021

Mexico's fiscal response to the pandemic has been modest compared to its peers, reflecting the authorities' desire to not issue new debt for spending. This approach, however, risks a more severe recession and a weaker economic recovery, with further costs in the future. Balancing the need for...

Persistent link: https://www.econbiz.de/10013314839

Reducing Risk While Sharing it : A Fiscal Recipe for the EU at the Time of COVID-19

Batini, Nicoletta; Lamperti, Francesco; Roventini, Andrea - 2021

The COVID-19 lockdowns have brought about the need of large fiscal responses in all European countries. However, countries across Europe are differently equipped to respond to the shock due to differences in economic conditions and fiscal space. We build on the model by Berger et al. (2019) to...

Persistent link: https://www.econbiz.de/10013315110

Capital Markets, COVID-19 and Policy Measures

ElFayoumi, Khalid; Hengge, Martina - 2021

The COVID-19 pandemic and associated policy responses triggered a historically large wave of capital reallocation between markets and asset classes. Using high-frequency country-level data, this paper examines if and how the number of COVID cases, the stringency of the lockdown, and the fiscal...

Persistent link: https://www.econbiz.de/10013234704

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