This study investigates whether tourism sector recovery from the COVID-19 pandemic is influenced by only the size of the economic stimulus packages or whether a country's resilience plays a moderating influence in the underlying relationship. The results show that while economic stimulus...

We propose a theoretical framework to reconcile episodes of V-shaped and L-shaped recovery, encompassing the behaviour of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks destroy productive capacity, moving GDP to a lower...

Preface -- 1. The Interwar Economic Crisis in Comparative Research Perspective -- 2. Limits of the Possible for Economic Policy Choice -- 3. Protectionism: A Safe Haven or Missed Opportunity? -- 4. Proto-Fordism: Seizing the Moment under Democracy -- 5. Neomercantilism, Mark I, under...

Unprecedented monetary policy accommodation in advanced economies and a large, coordinated fiscal stimulus by G20 countries helped to support a solid rebound in global output right after the 2009 Global Recession. However, global growth subsequently slowed to a sluggish pace by pre-recession...