effective countercyclical fiscal policy in the Philippines depends on maintaining prudent fiscal buffers, implementing well …-targeted and timely interventions, strengthening fiscal policy execution, and ensuring coordination with broader macroeconomic …

Pro-cyclical fiscal policy is considered harmful. Nonetheless, pro-cyclicality is widespread and the cyclicality of … fiscal policy isstrongly heterogenous in advanced economies. This paper investigates how differences in the cyclicality of … fiscal policy can be understood through the lens of Varieties of Capitalism (VoC). The VoC-perspective argues for systematic …

to unconventional fiscal policy. We use survey and scanner data on household consumption expenditures and their perceived …

provides new insights into the evolving role of financial frictions in the transmission of fiscal policy …