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A Strategy for Renormalizing Fiscal and Monetary Policies in Advanced Economies

Author

Listed:
  • Mr. Carlo Cottarelli
  • José Vinãls

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.

Suggested Citation

  • Mr. Carlo Cottarelli & José Vinãls, 2009. "A Strategy for Renormalizing Fiscal and Monetary Policies in Advanced Economies," IMF Staff Position Notes 2009/022, International Monetary Fund.
  • Handle: RePEc:imf:imfspn:2009/022
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=23304
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    Cited by:

    1. Olgica Glavaški & Emilija Beker Pucar, 2021. "Heterogeneity of fiscal adjustments in EU economies in the pre- and post-crisis periods: common correlated effects approach," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 11(1), pages 191-226, March.

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