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Toward a Fiscal Union for the Euro Area by Céline Allard, Petya Koeva Brooks, John C. Bluedorn, Fabian Bornhorst, Katharine Christopherson, Franziska Ohnsorge, Tigran Poghosyan, and an IMF Staff Team published by IMF (9/2013). The crisis has exposed a…

Developing economy debt after the pandemic by M. Ayhan Kose, Franziska Ohnsorge, Carmen Reinhart, Kenneth Rogoff published by VOXEU (11/2021) Global government debt soared in last year’s pandemic-induced global recession. It may now be tempting to rely on the post-pandemic…

Fiscal policy: ready for the next shock? by Franziska Ohnsorge (12/2017). “Fiscal sustainability gap: What fiscal consolidation would stabilize debt? A summary metric of government debt dynamics. Compares a country’s fiscal balance with the balance that stabilizes government debt…

Under the cloud of cycles: Linkages between fiscal multipliers and positions by Raju Huidrom, M. Ayhan Kose and Franziska Ohnsorge published by VOXEU (8/2016). “Fiscal multipliers tend to be larger when the fiscal position of governments is stronger. This…