We study the one-year-ahead budgetary projections from the Stability and Convergence Programmes of EU Member States since the start of the Economic and Monetary Union (EMU) until the start of the coronavirus crisis. We consider first budget-balance errors, which we then split into expenditure...

Black Economic Empowerment (BEE) is a policy that aims to empower black people and, thus, decrease racial inequality in South Africa. The program puts reformation pressure on firms and might strongly influence firm performance. This paper examines how BEE affects turnover, profits, and labor...

In 2012, 22 EU countries signed the Fiscal Compact, an intergovernmental agreement aimed at backing EU fiscal rules with national arrangements. The main objective of the Compact was to strengthen compliance. Based on a survey of national independent fiscal institutions, we take a closer look at...