income shock in the EU, compared to 32 per cent in the US. In the case of an unemployment shock 47 per cent of the shock are … absorbed in the EU, compared to 34 per cent in the US. This cushioning of disposable income leads to a demand stabilization of … up to 31 per cent in the EU and up to 28 per cent in the US. There is large heterogeneity within the EU. Automatic …

income shock in the EU, compared to 32 per cent in the US. In the case of an unemployment shock 47 percent of the shock are … absorbed in the EU, compared to 34 per cent in the US. This cushioning of disposable income leads to a demand stabilization of … up to 30 per cent in the EU and up to 20 per cent in the US. There is large heterogeneity within the EU. Automatic …

income shock in the EU, compared to 32 per cent in the US. In the case of an unemployment shock 48 per cent of the shock are … absorbed in the EU, compared to 34 per cent in the US. This cushioning of disposable income leads to a demand stabilization of … 26 to 35 per cent in the EU and 19 per cent in the US. There is large heterogeneity within the EU. Automatic stabilizers …

of 19 EU countries and the US, and discretionary fiscal stimulus packages passed by these countries during the recent …