“…In order to avoid repeating past mistakes, the debate on how to reform European fiscal policy should be settled before the rules are re-enacted when the coronavirus crisis has passed.…”
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“…In this respect, we will consider whether a federal leap is necessary in several areas, namely (i) monetary and fiscal policy (rules), (ii) labor markets policy and social models, migratory flows and skill shortages, and cooperation policy and (iii) renewed industrial policy and exchange rates. …”
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“…We find that an increase in government bond purchases is a stabilizing factor, whereas an extreme increase in the degree of counter-cyclical fiscal policy is a destabilizing factor. Nevertheless, as long as the fiscal and monetary policies of two countries are not extremely active, but active to a certain extent, the equilibrium point becomes locally stable. …”
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“…The empirical results demonstrate that the volatility correlation between EPU of China and West Texas Intermediate (WTI) oil price is mainly reflected in the monetary policy uncertainty (MPU), while that of fiscal policy uncertainty (FPU) is much weaker. Specifically speaking, the volatility correlation between MPU of China and downward WTI oil price is significantly negative in the short-middle term (4–8 months) and changes to positive in the middle-long term (8–16 months), while that of upward WTI oil price is only significantly positive in the long term (16–32 months). …”
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“…Taken together, our empirical findings are effective for the relevant authorities and policymakers in the USA to develop an appropriate financial and fiscal policy such as reducing interest rates, subsidizing, promoting sustainable industrialization, and carbon taxation to boost investment and to recover the economic growth without harming the environment and complicating the sanitary situation.…”
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“…In the present study, we examine the effect of government fiscal policy on firm risk in the post-COVID-19 period for an emerging market: Turkey. …”
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“…Evidence on the US response to COVID-19 to date suggests the need for major revisions in the architecture of intergovernmental fiscal policy.…”
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“…To answer these questions, fiscal policy, structural reforms and convergence towards resilient economic structures are used as case studies. …”
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“…METHODS AND FINDINGS: Using the US IMPACT Food Policy Model and probabilistic sensitivity analyses, we estimated and compared the reductions in CVD mortality and socio-economic disparities in the US population potentially achievable from 2015 to 2030 with specific dietary policy scenarios: (a) a national mass media campaign (MMC) aimed to increase consumption of F&Vs and reduce consumption of SSBs, (b) a national fiscal policy to tax SSBs to increase prices by 10%, (c) a national fiscal policy to subsidise F&Vs to reduce prices by 10%, and (d) a targeted policy to subsidise F&Vs to reduce prices by 30% among Supplemental Nutrition Assistance Program (SNAP) participants only. …”
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“…CONCLUSIONS: Rises in unemployment are associated with increased HIV mortality. Economic fiscal policy may impact upon population health. Policy discussions should take into consideration potential health outcomes.…”
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“…For these seven countries, health or fiscal policy related to health spending will not have an impact on economic growth; (2) For Belgium, Norway, and Mexico, only a unidirectional linear causality runs from health care expenditure to economic growth, while bidirectional linear causality can be found for Canada, Finland, Iceland, New Zealand, Spain, Brazil, and South Africa. …”
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“…Because of the macro-stabilization effects of fiscal tightening, and because low interest rates create “breathing room” for fiscal policy, we do not see the large, short-run debt accumulation resulting from the current pandemic as necessitating any immediate offsetting response. …”
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“…Under these circumstances, however, it no longer provides a reliable orientation for fiscal policy. I illustrate these findings based on simulations prepared for the Fifth Sustainability Report published by the German Federal Ministry of Finance. …”
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“…The most prominent measure of this package is an unconventional fiscal policy in the form of a temporary VAT rates cut for six months, from 1 July to 31 December 2020. …”
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“…Results indicate significant differential behaviour, with fiscal policy found to be a dominant and largely effective mechanism generating median abnormal returns of 2.17 %. …”
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“…First, structural policy reforms in critical areas of debt, fiscal policy, tax, trade, capital flows and credit rating agencies. …”
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“…Finally, we show that unprecedented fiscal policy actions, such as the short-time work schemes implemented or reformed at the onset of the COVID-crisis, however, have not eased economic sentiment.…”
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“…An appropriate fiscal policy, together or not with monetary policy, can restore the pre-shock situation. …”
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“…METHODS: This study focused on significant changes in fiscal policy between 2001 and 2014 in Japan. The size of expenditures by national and local governments decreased dramatically between 2001 and 2006 under the neoliberal reform and then increased after the global economic crisis and the Great East Japan Earthquake. …”
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“…We find that discretionary fiscal policy measures in Austria are key to counteracting the inequality- and poverty-enhancing effect of COVID-19. …”
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