Series: IMF Staff Position Notes
Author(s): Carlo Cottarelli , and José Vinãls
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 22 September 2009
Keywords: Fiscal policy, Global financial crisis, policy response, fiscal stimulus, fiscal sustainability, debt sustainability, exit strategies, monetary policy, central bank balance sheet, financial sector support
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 ha...