We estimate the impact of fiscal measures adopted in response to the COVID-19 crisis at the euro area level, combining standard macroeconomic data with an index on the strictness of ‘lockdown style’ policies. Given the multitude of shocks occurred simultaneously during the pandemic, the...

One of the main functions of public debt is to smooth taxes and spending over time. In the Covid crisis, the Maastricht deficit restrictions were temporarily suspended to allow for large temporary deficits. As recovery sets in, countries are confronted with the task of consolidating the Covid...

This policy brief prepared by ECLAC examines the economic and social impact of the war in Ukraine on the region, and offers countries recommendations on how to address its effects. The document analyzes economic and social variables as well as the different sectors of the regional economy that...