The unprecedented challenges from COVID-19 present many institutions of higher education with liquidity, and even solvency, concerns. In this report, we provide guidance to institutions and policymakers about the short- and medium-term revenue losses that are likely to materialize as a result of...

Fiscal spending multiplier calculations have been revived in the aftermath of the global financial crisis. Much of the current literature is based on VAR estimation methods and DSGE models. The aim of this paper is not a further deepening of this literature but rather to implement a calculation...

The recent macroeconomic literature dealing with fiscal policy multipliers is dominated by applications of aggregate DSGE (Dynamic Stochastic General Equilibrium) models, whereas multi-sectoral models (econometric input-output or CGE) are absent. This paper contributes to the debate from a...

The Visegrád economies have been hit hard by the COVID-19 pandemic, especially its second wave. In response, macroeconomic policies have been markedly relaxed, with fiscal stimulus packages reaching up to 14% of GDP in Poland and Czechia. The projected recovery of the Visegrád economies from...