The passage of Russia's “Great Recession” provides an opportunity for academics and policy makers to reflect on policy lessons that could help policy makers deal with future crises, including how to handle the triple challenges — fiscal, financial, and social — in the aftermath of the...

This study analyzes the short run issues of fiscal policy implementation in the Euro Area and the effectiveness of debt expansion in member economies. The research indicates that both developing economies and those with high levels of accumulated debt face trouble with the expansion and...

This paper investigates the effects of discretionary fiscal policy changes on economic activity and its subcomponents in Greece in the period 2000-2011. Changes in government spending and net taxes have Keynesian effects. An increase in government consumption has the most pronounced positive...

In this paper, we analyse the sustainability of Italian public finances using a unique database covering the period 1862–2013. This paper focuses on empirical tests for the sustainability and solvency of fiscal policies. A necessary but not sufficient condition implies that the growth rate of...