Using a panel of annual data for 20 countries we show that synchronized fiscal consolidation (stimulus) programmes in different countries make their business cycles more closely linked, especially in the case of fiscal adjustments lasting 2 or 3 years. We also find: (i) little evidence of...

We analyze how the combined effect of automatic stabilizers and discretionary changes in tax-benefit systems have affected the cushioning of income shocks in the Euro zone and the EU-27 in the period 2007-2014. We propose a new summary measure of the combined effect of automatic stabilizers and...

This paper is devoted to the ability of selected European countries to face the potential economic crisis caused by COVID-19. Just as other pandemics in the past (e.g., SARS, Spanish influenza, etc.) have had negative economic effects on countries, the current COVID-19 pandemic is causing the...

Many South Asian countries experienced changes in government and strong economic growth since the early 2000s. Poverty and social exclusion have received growing attention, and many governments in the region strengthened their commitments to ensure equal access to basic healthcare, education and...

Many South Asian countries experienced changes in government and strong economic growth since the early 2000s. Poverty and social exclusion have received growing attention, and many governments in the region strengthened their commitments to ensure equal access to basic healthcare, education and...