Oxford Review of Economic Policy volume 36, issue Supplement_1, PS225-S241 2020 DOI: 10.1093/oxrep/graa019 View full text
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Michael P Devereux, İrem Güçeri, Martin Simmler, Eddy H F Tam

Abstract: Abstract We analyse discretionary fiscal responses to the Covid-19 pandemic. We distinguish policies for three phases of the pandemic: (1) acute overall disruption, (2) initial recovery phase and (3) the longer term. We analyse measures already taken in (1) and consider measures relevant for (2). We distinguish between lump-sum subsidies, such as deferral of tax payments, which may ease financial constraints, and measures which intentionally affect incentives. We also identify factors that are i…

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