An impulse response is the dynamic average effect of an intervention across horizons. We
use the well-known Kitagawa-Blinder-Oaxaca decomposition to explore a response's …

Using a panel of 86 advanced and emerging market economies over the period 1985–2020,
we investigate the short-to-medium term effects of fiscal rules on primary balances. We …

Fiscal consolidation is essential for safeguarding fiscal sustainability in many OECD
countries in the post COVID-19 era. Several empirical studies have presented evidence in …

Unusual circumstances often coincide with unusual fiscal policy actions. Much attention has
been paid to estimates of how fiscal policy affects the macroeconomy, but these are typically …

This paper is devoted to the ability of selected European countries to face the potential
economic crisis caused by COVID-19. Just as other pandemics in the past (eg, SARS …

Departing from the expansionary austerity literature, this study assesses empirically whether
fiscal consolidation propagates changes in the supply side of the economy that can …

This paper studies the effect of wage rigidities on the transmission of fiscal and monetary
policy shocks. We calculate downward wage rigidities across US states using the Current …

Inflation and overcapacity caused by fiscal expansion have begun to plague China's
economy. The surge in public debt caused by the perennial high deficit rate has led to …

This study seeks answers to questions such as: what is fiscal adjustment? Which fiscal
strategy will result in a reduction in public debt liabilities? In the pursuit of answers to these …

The paper examines the consequences of fiscal consolidation in times of persistently low
growth and high unemployment by estimating medium-term fiscal multipliers during …