Zdravković, Aleksandar and Kamenković, Sandra and Kaličanin, Tijana (2022) The Size of the Fiscal Stimulus in European Countries. In: Economic and Financial Implications of Covid-19 Crises. Université Côte d'Azur, Nica, pp. 69-91. ISBN 978-2-493478-00-9
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Abstract
In this, we discuss and assess the size of the fiscal stimulus in European countries. To
this end, we developed a simple methodological framework for the estimation of fiscal
stimulus as a discretionary component of fiscal balance, relying on the information in
the IMF World Economic Outlook database. Decomposition of fiscal balances
indicates that discretionary component exceeded cyclical component in most European
countries, implying that European countries did well in mitigating economic fallout. In
addition, we compared estimated fiscal stimuli with above-the-line measures
announced or taken in 10 selected European countries. Our findings show that the
difference between estimated stimulus and measures announced or taken can be huge,
which is a puzzling result and a potential subject for future research.
| Item Type: | Book Section |
|---|---|
| Additional Information: | COBISS.ID=65603849 |
| Uncontrolled Keywords: | COVID-19, fiscal stimulus, fiscal policy measures, fiscal balance, European countries |
| Research Department: | Macroeconomics |
| Depositing User: | Jelena Banovic |
| Date Deposited: | 18 Oct 2022 13:58 |
| Last Modified: | 18 Oct 2022 13:58 |
| URI: | http://35.240.28.64/id/eprint/1795 |
| Author Links: |
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