Adoption of fiscal rules and fiscal councils continued to increase globally over the last
decades based on two new global datasets. During the pandemic, fiscal frameworks were …

Countries increasingly rely on independent fiscal councils to constrain policymakers'
discretion and curb the bias towards excessive deficits and pro-cyclical policies. Since fiscal …

Using real-time data, we examine whether fiscal policy has been counter-or procyclical in a
panel of 27 European Union (EU) member states over the period 2000–2015. We also …

This paper estimates the causal effect of fiscal rules on fiscal balances in a panel of 142
countries over the period 1985–2015. Our instrumental variable strategy exploits the …

What is the most appropriate combination of fiscal and monetary policies in economies
subject to banking crises and deep recessions? We study this issue using an agent-based …

We examine whether fiscal rules' impact on fiscal performance depends on budget
transparency. Using panel data of 73 countries over the 2003–2013 period, we find that …

Construction Economics provides students with the principles underlying the relationship
between economic theory and the construction industry. Its new approach specifically …

We study patterns of public investment behavior during fiscal consolidations in seventy-five
advanced and emerging economies during 1990–2018 and find that results differ …

This note explores how the economic thinking about macroeconomic management has
evolved since the crisis began. It discusses developments in monetary policy, including …

We ask whether fiscal rules constrain incumbents from using fiscal policy tools for reelection
purposes. Using data on fiscal rules provided by the IMF for a sample of 77 (advanced and …