Policy initiatives in the global recession: what did forecasters expect?
AbstractThe global recession of 2008-09 led to monetary and fiscal policy responses by central banks and government authorities that were often unconventional in size and scope. A study of expansionary measures employed during the recession suggests that overall, the policies were likely effective in shaping the outlook for a recovery, as forecasters raised their expectations of inflation and GDP growth after the policies’ implementation. From this perspective, the policies stimulated economic activity and prevented deflationary pressures during the financial crisis.
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Bibliographic InfoArticle provided by Federal Reserve Bank of New York in its journal Current Issues in Economics and Finance.
Volume (Year): 18 (2012)
Issue (Month): Feb ()
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