This study reviews Azerbaijan's fiscal policy implementation and discusses its changes before, during and after the oil boom. Specifically, the period prior to 2005 is considered pre-boom, 2005-2014 is considered the oil boom and the years after 2014 are considered the post oil boom period. It...

Optimal fiscal policy is expected to behave in a countercyclical manner to stabilize economies during business cycles. In particular, the public expenditure-to-GDP ratio should go up during recessions and down during expansions, while the public revenues-to-GDP ratio should move in the opposite...

In recent years, because of the 2008 financial crisis and the evolution of the sovereign debt markets, there has been a significant increase in interest in understanding the factors that determine the risk premium, becoming a key indicator of the financial stability of countries, and a measure...

We study the effects of different financing rules for untargeted energy price brakes and subsidies on intergenerational welfare in a large-scale overlapping generations model. The results indicate that, in comparison with a laissez-faire solution without any government interventions,...

The Leontief Input-Output Exploration of Romania's Operational Programme Human Capital: Impacts and Implications for GDP Growth -- Exploring the Dynamics of Knowledge Ecosystem: A Systematic Literature Review -- Study on the Interactions between Fiscal Policy, Monetary Policy and Financial...

The three South Caucasus economies - Armenia, Azerbaijan and Georgia - have performed relatively well since the COVID-19 pandemic, benefiting from certain spillovers of Russia's war against Ukraine. The oil importers Armenia and Georgia achieved double-digit GDP growth in 2022 - 12.6% and 11.0%,...

This paper provides a critical assessment of the new EU fiscal framework, with a focus on its implications for public expenditure on the twin green and digital transition. According to the reformed rules, member states may commit to a package of investment and reform to extend the fiscal...

This book presents an overview of the economics and politics implemented in the European Union and especially the Eurozone during the crisis of 2008-2012. Although it focuses on these four years, the analysis starts from the establishment of the European Union and covers the period up to the...

While the tax reforms which have been instituted as part of the Structural Adjustment Programmes in ACP countries primarily aim at simplifying tax systems and raising their efficiency, they are also intended to improve distributional equity. This article assesses the equity effects of taxation...