McGrattan (2007, Econometrica) for the Great Recession and the associated stimulus program in Germany 2008-2009. We include …

In this paper, we analyse the effects of the stimulus packages adopted by the German government during the Great …

As the coronavirus pandemic spread across the globe in early 2020, the European Central Bank as well as national …

McGrattan (2007, Econometrica) for the Great Recession and the associated stimulus program in Germany 2008-2009. We include …

Anticipated stimulus policies enacted perhaps in response to a crisis can motivate precautionary behaviour during the … preceding expansion. Ex post stimulus can be ex ante prudential. Prudential fiscal stimulus both speeds up economic recoveries …, and prevents crises from occurring in the first place. Prudential fiscal stimulus policies can be simple: a wage subsidy …

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 … whether countries with weak automatic stabilizers have enacted larger fiscal stimulus programs. We find no evidence supporting … this view. -- automatic stabilization ; crisis ; liquidity constraints ; fiscal stimulus …