{
  "title": "The Extent and Composition of Automatic Stabilization in EU Countries",
  "publication": "IMF Working Papers, May 12, 2023",
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  "summary": "This paper analyses the magnitude of automatic income and demand stabilization in EU Member States between 2011 to 2019. Our analysis finds that automatic income stabilization in 2019 averaged 41.3 percent at the EU level, with considerable variation among Member States.",
  "sections": [
    {
      "heading": "Summary",
      "content": "- Analysis period: 2011 to 2019.\n- Main objectives: quantify automatic income and demand stabilization in EU Member States and examine composition across income groups.\n- Core results at the EU level in 2019:\n  - Automatic income stabilization averaged 41.3 percent.\n  - Demand stabilization averaged 84.7 percent."
    },
    {
      "heading": "Key findings on income stabilization",
      "content": "- Automatic income stabilization in 2019 averaged 41.3 percent at the EU level.\n- Considerable variation exists among Member States in the extent of automatic income stabilization.\n- Within countries, the overall extent of stabilization is similar across household income groups, but the composition differs:\n  - Income taxation is more important for high-income households.\n  - Transfers are more important for low-income households.\n- Income stabilization proved stable over time, with a few exceptions driven by major reforms."
    },
    {
      "heading": "Key findings on demand stabilization",
      "content": "- EU-level demand stabilization in 2019 averaged 84.7 percent.\n- Demand stabilization increases with household income, reflecting the greater ability of richer households to smooth consumption."
    },
    {
      "heading": "Subject coverage and keywords (as presented)",
      "content": "- Subject: Consumption, Disposable income, Income, Income distribution, Income shocks, National accounts\n- Keywords: Consumption, Demand stabilization, Disposable income, EU SILC, Euromod, Europe, Global, Income, Income distribution, Income shocks, Income stabilization, market income, stabilization coefficient\n\nSource: \"The Extent and Composition of Automatic Stabilization in EU Countries\", IMF Working Paper No. 2023/103 by David Coady, Silvia De Poli, Adrián Hernández, Andrea Papini, and Alberto Tumino (May 12, 2023).\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2023/05/12/the-extent-and-composition-of-automatic-stabilization-in-eu-countries-533326"
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    "Authors: David Coady, Silvia De Poli, Adrián Hernández, Andrea Papini, Alberto Tumino",
    "Published: May 12, 2023",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9798400243394.001",
    "Analysis period: 2011 to 2019.",
    "Main objectives: quantify automatic income and demand stabilization in EU Member States and examine composition across income groups.",
    "Core results at the EU level in 2019:",
    "Automatic income stabilization in 2019 averaged 41.3 percent at the EU level.",
    "Considerable variation exists among Member States in the extent of automatic income stabilization.",
    "Within countries, the overall extent of stabilization is similar across household income groups, but the composition differs:",
    "Income stabilization proved stable over time, with a few exceptions driven by major reforms.",
    "EU-level demand stabilization in 2019 averaged 84.7 percent.",
    "Demand stabilization increases with household income, reflecting the greater ability of richer households to smooth consumption.",
    "Subject: Consumption, Disposable income, Income, Income distribution, Income shocks, National accounts",
    "Keywords: Consumption, Demand stabilization, Disposable income, EU SILC, Euromod, Europe, Global, Income, Income distribution, Income shocks, Income stabilization, market income, stabilization coefficient",
    "**Working Paper**"
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