Fiscal rules are argued to be important for sound and sustainable fiscal policies and have been increasingly adopted over the last 20 years. However, as increased fiscal pressure and fiscal risks urge countries to address the public debt legacy left by recent economic crises, fiscal rules come...

Fiscal consolidation often entails balanced budget requirements (BBRs) for local governments. However, little is known about the effects of BBRs on economic activity, as most quasi-experimental estimates of local fiscal multipliers stem from windfall expansionary shocks. This paper studies the...

Motivated by the recent debate about the EU fiscal framework, we analyse public debt ceilings in a political-economy model with uncertainty about both the type of policymaker (benevolent or selfish) and the state of the economy (good or bad). Pooling, hybrid and separating equilibria may exist....

This paper describes the key findings of a PhD study which critically analyses the construction of social class within UK media during the period 2010-2016 - part of the ‘age of austerity’. Focusing upon 240 newspaper articles covering 6 topics (emergency budget, welfare reform, workfare,...

In 1997, after a costly bailout, the central government of Mexico passed legislation intending to improve subnational finances through fiscal decentralization. As a result, many states began to accumulate debt during the following decade rapidly. Subnational public debt grew threefold between...

Drawing from neo-Gramscian theory, the paper explores how urban austerity governance mediates crises of neoliberal hegemony. Focusing on the decade after the Global Economic Crisis of 2008–2009, it compares four European cities disclosing five intersecting characteristics of urban political...

Skyrocketing debt-to-GDP ratios in the wake of the global coronavirus pandemic again brought the question of fiscal sustainability into focus. This paper evaluates sustainable monetary and fiscal policy coordination in high debt scenarios. In particular, it compares policy interactions in NK...

We assess the drivers of fiscal sustainability in Portugal during the period 1999Q4-2021Q4. We resort to expanding window and Schlicht (2003, 2021)'s time-varying approaches to construct the responses of government revenues to government expenditures and the responses of the primary government...