Flattening the Recession Curve Comparing Initial Fiscal Responses to the Corona Crisis Across the EU1. BertelsmannStiuftung Policy paper 9 April 2020

Hainbach, Natascha and Redeker, Nils (2020) Flattening the Recession Curve Comparing Initial Fiscal Responses to the Corona Crisis Across the EU1. BertelsmannStiuftung Policy paper 9 April 2020. [Policy Paper]

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Abstract

While the ongoing pandemic affects all European economies, we show that it is likely to cause much more economic damage in some member states than in others. Early fiscal crisis responses by EU governments do not reflect these differences. If anything, countries which are likely to be especially vulnerable are currently committing fewer fiscal resources to fighting the economic fallout than others. A joint European policy response to share the fiscal burden of this crisis is, therefore, urgently needed.

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