02701cas a2200361 a 4500 AALejournalIMF022778 230101c9999 xx r poo 0 0eng d 20.00 USD 9798400215247 1018-5941 BD-DhAAL BD-DhAAL Ari, Anil. Output Losses in Europe During COVID-19 : What Role for Policies? / Anil Ari, Jean-Marc Atsebi, Mar Domenech Palacios. Washington, D.C. : International Monetary Fund, 2022. 1 online resource (40 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We use a decomposition methodology to analyze the factors underlying the differentiated output losses of European countries in 2020. Our findings are fourfold: First, 2020 growth outcomes can be explained by differences in mobility, underlying growth trends, and pre-pandemic country fundamentals. Second, fiscal and monetary policies helped alleviate output losses during the pandemic in all European countries but to a varying extent. Third, shallower recessions in emerging market economies in Europe can be attributed to higher underlying growth and younger populations. Fourth, fiscal multipliers were higher in countries where above-the-line measures accounted for a larger share of the total fiscal package, the size of the total fiscal package was smaller, and inequality and informality were greater, as well as in countries with IMF-supported program during the pandemic. Mode of access: Internet Economywide Country Studies imf Fiscal Policy imf General Outlook and Conditions imf Monetary Policy imf Studies of Particular Policy Episodes imf Atsebi, Jean-Marc. Domenech Palacios, Mar.. IMF Working Papers; Working Paper ; No. 2022/130 Full text available on IMF https://elibrary.imf.org/openurl?genre=journal&issn=1018-5941&volume=2022&issue=130 IMF e-Library Full text available on IMF https://elibrary.imf.org/openurl?genre=journal&issn=1018-5941&volume=2022&issue=131 IMF e-Library Full text available on IMF https://elibrary.imf.org/openurl?genre=journal&issn=1934-7685&volume=2022&issue=205 IMF e-Library Full text available on IMF https://elibrary.imf.org/openurl?genre=journal&issn=1934-7685&volume=2022&issue=206 IMF e-Library