Heterogeneous Effects of Energy Crisis Policy Instruments on Macroeconomic Stability in Europe

This dataset supports the article “Heterogeneous Effects of Energy Crisis Policy Instruments on Macroeconomic Stability in Europe”. It contains a balanced country–year panel for 28 European countries over 2019–2024, used to assess how different national energy crisis policy instruments were associated with macroeconomic stability after the 2022 energy shock. Macroeconomic stability is measured by the Macroeconomic Stability Index, a bounded composite indicator constructed from price stability, economic growth, fiscal balance, unemployment, and the current account position. Policy variables are coded from the Bruegel dataset on national measures adopted to shield consumers from rising energy prices, including tax/VAT reductions, retail and wholesale price regulation, transfers to vulnerable groups, mandates to state-owned enterprises, windfall profit taxes, business support, and other measures. The dataset includes variables for fractional logit models with country- and year-fixed effects, CR2 cluster-robust inference, average marginal effects, and bootstrap robustness checks. The data allow replication of the empirical analysis reported in the article and support further research on energy crisis governance, policy design, macroeconomic stability, and cross-country heterogeneity in Europe.