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World Economic outlook - Financial Stress, Downturns and Recoveries

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Data and Methodology 154 References 156 Chapter 5. Fiscal Policy as a Countercyclical tool Understanding the Fiscal Policy Debate How Has Discretionary Fiscal Policy Typically Responded? Are Fiscal Policy Reactions Different in Emerging and Advanced Economies? The Macroeconomic Effects of Discretionary Fiscal Policy A Simulation-Based Perspective on Fiscal Stimulus Conclusions and Policy Considerations Appendix