Larch, Martin; Orseau, Eloise; der Wielen, Wouter van - 2021
scope for stabilising output. Using panel data covering close to 40 EU and non-EU countries, we provide evidence that the …. The commonly accepted reasons are political economy and uncertainty. In the EU, the pro-cyclical nature of discretionary … meaningful indicators of the cycle are used. We also show that deviations from fiscal rules and the accumulation of government …