Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/299766 
Year of Publication: 
2022
Series/Report no.: 
Working Papers in Economics and Management No. 01-2022
Publisher: 
Bielefeld University, Faculty of Business Administration and Economics, Bielefeld
Abstract: 
This paper empirically analyses fiscal policy behavior in the European Union (EU) Member States and assesses how it has changed during the recent pandemic crisis compared to previous crisis situations. Based on panel estimations the outcomes reveal that this time is different, both concerning the policy direction as well as its magnitude. We confirm that fiscal policy has turned from formally pro-cyclical/a-cyclical design prior to COVID-19 period to countercyclical in the pandemic years. Moreover, this changeover is independent from the status of the EU membership, as it affects both Old Member States (OMS) and New Member States (NMS) likewise.
Subjects: 
COVID-19 pandemic
Discretionary Fiscal Policy
New Member States
Counter-Cyclical Policies
Fiscal Rules
JEL: 
E62
O52
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Working Paper

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