1 “... analysis suggest that: 1) smaller countries have more volatile non-discretionary and discretionary...”

2 “... gross debt-to-GDP ratio. Measuring the increase in debt in this manner seems more appropriate than some...”

3 “... is less pronounced but more persistent in countries with more rigid labor market institutions...”

4 “... shocks. Higher-quality insolvency regimes are associated with more efficient factor reallocation...”

5 “... and econometric analysis suggest that within-year responses are more important in terms of intensity and frequency...”

6 “.... Emergency lifeline measures (which form the bulk of below-the-line measures) are more effective when...”

7 “... but more persistent than for shocks to global oil and food prices. The effects are more muted in countries...”

8 “... productivity growth more in industries that depend heavily on external finance. This effect is larger during...”

9 “... policy is more effective in countries with flexible exchange rate regime, more developed financial...”

10 “...: reforms are more likely when other countries also undertake them and when there is formal pressure...”

11 “... are those that contribute more to provide smoothing. Moreover, the stabilization effects of social spending...”

12 “... tends to be more persistent than responding to output variations. We also found that while the effect...”

13 “... the composition of international capital flows towards more stable and productive sources...”

14 “... tends to be larger: (i) during recessions; in countries (ii) that are more open to trade; (iii...”

15 “... suggest that debt crises tend to be more detrimental than banking and currency crises. The significance...”

16 “... are magnified when tariffs rise during expansions and when they are imposed by more advanced or smaller...”

17 “... with high financial depth and those that avoid financial crises, while distributional effects are more...”

18 “... that firms in industries that are more digitalized experience lower revenue losses following recessions...”

19 “...) during periods of slack; (ii) in economies operating with fixed exchange rate regimes; (iii) in more...”

20 “... is strongly correlated with, but more comprehensive than, existing measures of openness and trade policy...”