The deterioration in the budget outlook has been startling, and the response of policymakers has been equally disappointing. The deficit has zoomed; it will exceed $200 billion in Fiscal Year 1990 and is estimated to be approximately $270 billion in FY1991, $200 billion excluding the additional...

Economic recovery may be underway. Inflation continues to fall, but the speed and durability of the recovery remain in doubt. Some foresee the economy reverting to stagnation or recession in 1983 after a brief period of expansion. Others foresee sustained recovery with growth of real output...

This paper looks at the macroeconomic policy response to the Covid-19 crisis in the European Union (EU) and the prospects for long-term recovery under the Next Generation EU (NGEU) plan. It argues that, un­like what happened following the sovereign debt crisis of 2011-2012, the EU’s strong...

Chapter One: Introduction -- Chapter Two: Looking Back at How Egypt Got to Today -- Chapter Three: Navigating the Storms -- Chapter Four: Achieving Sustainable and Inclusive Growth -- Chapter Five: The Way Forward.

This study examines the influence of fiscal councils on public opinion regarding fiscal issues. Using a survey-framing experiment on a representative sample of 900 inhabitants of the Czech Republic, the study evaluates how the framing of a message regarding the negative effects of rising...