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This chapter investigates the impact of the COVID-19 pandemic on economic stimulus policies. Based on data from 156 economies, empirical results show that in the medium term, cumulative effect of COVID-19 pandemic is positively correlated with the economic stimulus policies but not in the short term. Heterogeneity tests show that while economic policies are used in developed economies more often, restrictive measures in developing countries are likely used as a substitution; deaths have a positive impact on economic stimulus policies but confirmed cases not. The results suggest that the pandemic may reinforce economic inequality due to potential stimulus policy capabilities, requiring international coordination and assistance to low-and-middle income countries in various aspects.

The aim of the paper is to evaluate fiscal adjustments that have occurred in the Economic and Monetary Union (EMU) countries in the last 35 years, and their consequences on the economic growth process by using the mean group (MG) estimators.

Our emphasis is on the effects of different composition of fiscal stimuli and consolidations. We compare the effects on the economic growth rate of different compositions of major fiscal changes. We use a cyclically adjusted value of the fiscal variables to leave aside variations of the fiscal variables induced by business cycle fluctuations.

Our empirical research of the effects of large changes in fiscal policy, both in case of a fiscal consolidation and of fiscal stimulus in the 18 EMU countries from 1980 to 2015, shows that adjustments by cutting current expenditures, rather than by tax increases are more likely to boost economic growth. It also shows that cuts of investment expenditures may reduce GDP growth. During fiscal stimulus episodes, tax cuts and public investments are more likely to increase growth than current public expenditure.

This is the first study devoted to the EMU countries. It should be underlined that the results obtained as for EMU countries are not necessarily applicable to other countries, as the different government size as well as different market institutions may influence the results.

The purpose of the paper is to review the social consequences of the Great Recession of 2008‐2009. In particular, it looks at impacts on the world of work – unemployment, informal and vulnerable employment, working poor and youth unemployment, and on public health – hunger and malnutrition, suicides, domestic violence and child abuse. In all fronts, the Great Recession had serious adverse impacts and morphed into a global social crisis. The situation is made worse due to obsessions with fiscal consolidation in the midst of tepid and uncertain recovery. The paper argues that policies matter and advocates for strengthening social protection and continued stimulus in order to ensure robust recovery.

The paper is a general review and it draws on the findings of the United Nations flagship publication, Report of the World Social Situation 2011. It is an analytical narrative of impacts of on‐going economic crisis.

The paper finds a worsening employment situation – rise in unemployment, informal and vulnerable employment, youth unemployment, and working poverty. It also finds adverse public health impacts in terms of rise in malnutrition and hunger, suicide rates, domestic violence and child abuse. Finally the paper finds that policies matters in mitigating worst impacts as well as sustaining recovery.

The findings are tentative as the social impacts of economic crisis become obvious after a long time lag.

The paper argues that policies matter and advocates for strengthening social protection and continued stimulus in order to ensure robust recovery.

During times of economic crises, the public policy response is to abandon basic economic thinking and engage in “emergency economic” policies. We explore how the current financial crisis was in part caused by previous emergency economic measures. We then investigate the theoretical limitations of emergency economic responses. We argue that these responses fail to take into consideration the practical conditions of politics, thereby making them unsuitable to remedy the problems of a crisis. Lastly, we provide a preliminary analysis of the consequences resulting from emergency economic policies initiated in response to the 2008 financial crisis.

The purpose of this paper is to analyze the evolution of the crisis, its causes and the corrective policy actions with the aim of drawing up from that a set of economics policy and substantive implications and conclusions.

To throw into sharp relief the causes and particular features of the financial crisis, the paper traces the combined evolution of financial innovations and globalization which underscores the eruption of the crisis. It then analyzes the recession and the ensuing policy actions. The US actions are examined in detail by analyzing the pertinent technical, macroeconomics, and political issues. Thereafter, elements of reforms are outlined, which in part draw on the work of the Bank of International Settlements. This leads into substantive and policy conclusions of great significance.

The paper elucidates the major historic changes observed in monetary policy design and execution. It also brings out the changes in the empirical size of the various fiscal policy lags as compared with the received literature. It is argued that if the policy actions succeed the empirical relevance of the modern quantity theory and new classical macroeconomics would be thrown into question. Other set of conclusions involves setting up an internationally coordinated of financial regulations and bank supervision. It is argued that reforming the international monetary system has become unavoidable. There are also a host of specific other conclusions.

The conclusions and analysis contained in this paper are totally new. Given their comprehensiveness and global orientation, they will presage in future work, an overdue revision in received macroeconomic theory and financial supervision not seen since the 1960s.

The present article aims to estimate an autoregressive vector model covering the period of 1990–2021 to analyze the effect of public spending and monetary supply increases in economic activity in Morocco.

A literature review on the policy of recovery with fiscal and monetary tools and its theoretical foundations was established. Then, an empirical study on the Moroccan context was executed to study the effectiveness of these instruments in Morocco from 1990 to 2021, using autoregressive vector modeling.

The results present a state of a positive relationship and statistical significance of public spending, money supply and economic growth. The impulse response function analysis and the forecast error variance decomposition showed that public spending does not have a large impact on gross domestic product, while the money supply has a real power to stimulate the growth of economic activity in Morocco.

This study aims to demonstrate the positive effect of the coordination of public spending and monetary supply increases on gross domestic product in Morocco. Additionally, the analysis using vector autoregressive modeling, impulse response functions, variance decomposition techniques and causality tests, provides crucial insights to guide researchers, practitioners and policymakers in developing more effective and resilient economic strategies. The findings from this study not only illuminate immediate recovery strategies but also contribute to strengthening the resilience of economies against potential future shocks.