The literature on fiscal multipliers finds that spending-based fiscal consolidations tend to have more benign macro-economic consequences than revenue-based consolidations. By directly comparing ex-post data with consolidation plans, we present evidence of a systematically weaker follow-up of...

The effects that the economic crisis triggered by COVID-19 is having on unemployment could hardly differ more than in the United States and Europe. This divergence also applies to the political reactions to it. Whereas the 27 member states of the European Union (EU-27) managed to keep...