spending opportunities and not merely rely on tax policies to stimulate growth … trap than in normal times by raising the potential interest rate and increasing aggregate demand. We analyze the relative … merits of these policies in New Keynesian models with and without endogenous private capital formation and heterogeneity when …

alternativemodel environments. We therefore conclude that fiscal policy should consider publicinvestment opportunities and not merely … in normal times by raising the potentialinterest rate and increasing aggregate demand. We analyze the relative merits of … these policiesin New Keynesian models with and without endogenous private capital formation andheterogeneity when monetary …

. The commonly accepted reasons are political economy and uncertainty. In the EU, the pro-cyclical nature of discretionary … scope for stabilising output. Using panel data covering close to 40 EU and non-EU countries, we provide evidence that the … volatility of output gap estimates is not a convincing explanation for pro-cyclical policies. With the exception of very large …

maintain fiscal responsibility by eventually reducing its debt levels through austerity measures; and those that believe, based … on newer progressive economic theory, that large public debt is not only acceptable, but that government debt is crucial … mitigate the shock to the economy, and exploring the potential pros and cons of the two distinct policy options. It is proposed …

monetary policy is constrained by the lower bound on interest rates or the monetary policy response to inflation and output is … stabilisers capture fiscal policy's automatic countercyclical response to the state of the business cycle, and are determined by … factors like the progressivity of the tax system, the size of government and the amount of benefit spending that is dependent …

. The commonly accepted reasons are political economy and uncertainty. In the EU, the pro-cyclical nature of discretionary … scope for stabilising output. Using panel data covering close to 50 EU and non-EU countries, we provide evidence that the … uncertainty around output gap estimates is not a convincing explanation for pro-cyclical policies. Discretionary measures remain …

. The commonly accepted reasons are political economy and uncertainty. In the EU, the pro-cyclical nature of discretionary … scope for stabilising output. Using panel data covering close to 40 EU and non-EU countries, we provide evidence that the … volatility of output gap estimates is not a convincing explanation for pro-cyclical policies. With the exception of very large …

Covid-19 crisis (2020-2021) was significantly more countercyclical than before - in particular in the Eurozone. We do not … find comparable evidence for more counter-cyclicality during the financial crisis or Euro crisis, which lends support to … findings shed light on how the cyclical behaviour of fiscal policy varies across countries and time. …

(i.e., acting procyclically). Since the economy does not respond symmetrically to government spending increases or …Using non-linear methods, this paper finds that existing estimates of government spending multipliers in expansion and … recession may yield biased results by ignoring whether government spending is increasing or decreasing. For industrial countries …

countries, little evidence exists in developing economies and evidence from China is scarce. Using the initial share of local … that fiscal stimulus expands employment in tertiary industry, while employment in primary sector contracts. The large and … significant growth of employment in the private sector implies that the fiscal stimulus did not crowd out the private sector …