A Strategy for Renormalizing Fiscal and Monetary Policies in Advanced Economies
Authors:
- Carlo CottarelliCCCarlo Cottarelli
- José VinãlsJVJosé Vinãls
- 1 September 2009
- journal article
- Published by International Monetary Fund (IMF) in IMF Staff Position Notes
- Vol. 2009 (022)
Abstract
In response to the worst economic crisis since the 1930s, government budgets and central banks have provided substantial support for aggregate demand and for the financial sector. In the process, fiscal balances have deteriorated, government liabilities and central bank balance sheets have been expanded, and risks of future losses for the public sector have increased.Keywords
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This publication has 1 reference indexed in Scilit:
- Growth Dynamics: The Myth of Economic RecoveryAmerican Economic Review, 2008