Attinasi, Maria Grazia; Palazzo, Alessandra Anna; … - 2019
We review the determinants of the discretionary fiscal policy action of governments in the euro area and in other … economic stabilisation: during good economic times (positive output gaps) it has been on average pro-cyclical both in the euro … counterbalancing forces, fiscal activism has not been a major feature of policy making in the euro area, nor in other advanced …