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fiscal stance when public-debt-to-GDP ratios are higher - but only in the euro area, not in advanced stand-alone countries …
Persistent link: https://www.econbiz.de/10014382638
Spending elasticities measure the reaction of different government spending components to the business cycle. They are important inputs for fiscal forecasts, and they are particularly relevant in the context of European Union (EU) fiscal rules, as elasticity estimates enter the estimation of...
Persistent link: https://www.econbiz.de/10014445966
This paper analyses the cyclicality of fiscal policy (discretionary versus automatic) for 28 advanced economies over 1995-2021 by paying special attention to the Covid-19 crisis. We find evidence that discretionary fiscal policy during the Covid-19 crisis (2020-2021) was significantly more...
Persistent link: https://www.econbiz.de/10013373264