Roberto Galbiati, Emeric Henry, Nicolas Jacquemet, Max Lobeck, 24 October 2020

In order to promote social distancing to contain the spread of Covid-19, governments introduced strict regulations. This column uses interviews from before the 23 March announcement of a nationwide UK lockdown and after the announcement to show that the introduction of the new laws affected the perception of social norms regarding the various containment measures – that is, what people thought the prevalent norms were. This appears to have been the result of fewer misperceptions about the social norms after the introduction of the laws, rather than actual changes in the social norms. 

Lucio R Pench, Stefan Ciobanu, Marcin Zogala, Cristiana Belu Manescu, 14 October 2019

Much of the debate on fiscal discipline and policy has focused on fiscal rules and their appropriate design. Using recent work by the European Commission on national fiscal frameworks in the EU member states, this column shows that other elements of the fiscal framework are just as important as national fiscal rules for fiscal discipline. Independent monitoring of compliance, more realistic macroeconomic and budgetary forecasts, comprehensive and timely fiscal statistics and medium-term fiscal planning are also key for fiscal discipline in the EU.

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