Issue 1 is now available

This issue brings together articles that combine rigorous analysis with policy-related issues. In their research article, Lino Sau and Olimpia Fontana examine the thesis that fiscal consolidations can stimulate growth and conclude that "expansionary austerity" is an oxymoron. Paulo R. Mota explores variations in employment hysteresis and its impact on different gender and age groups within the labour market. He develops a switching parameter for the magnitude of the employment rate hysteresis effects in his article. Aleksandr Arsenev, Philipp Heimberger and Bernhard Schütz analyse the sensitivity of the estimation methods of OECD and European Commission in obtaining government spending elasticities. Not only unemployment spending, but also other categories of social spending respond to the business cycle. The final article in this issue discusses the mechanisms of endogenous money creation in Argentina, examining the natural experiment of a fiscal moratorium in 2024.
Please also note our interview with the Italian economist Alessandro Roncaglia and the book reviews in this issue.
All contributions to this issue can be downloaded on Elgaronline for free.

The Editors