Fiscal policy influences the economy through government spending ... or raising taxes to rein in inflation or reduce external vulnerabilities. The longer-term aim may be sustainable growth or less ...

In an oil-producing country, fiscal policy might aim to moderate procyclical spending—moderating both bursts when oil prices rise and painful cuts when they drop. The crisis has had a negative impact ...

Indeed, the latter objective should be the main aim of national economic policies ... will augment challenges for fiscal policy over the longer term. And in this connection, how the EU formulates ...