SECTION I. Exit Strategies for Anti-Crisis Measures
Author:
Mr. Carlo Cottarelli
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Language:
English
Keywords:
SEM; financial system risk; monetary policy; market; bank assets; dollar; FX liquidity insurance scheme; monetary policy action; market participant; Inflation; Currencies; Current account deficits; International monetary system; Global; Asia and Pacific; Europe; Eastern Europe; Central and Eastern Europe
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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 government debt has increased sharply.

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Cover Reconstructing the World Economy
Reconstructing the World Economy
Author:
Il SaKong
and
Mr. Olivier J Blanchard
ISBN:
9781589069770
Publication Date:
19 Jul 2010
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589069770.072
Pages:
152
  • <sup><xref ref-type="fig" rid="Rch01fig01">Figure 1.1</xref></sup>
    View in gallery
    Figure 1.1

    Government debt in G-7 countries, 1950–2010

    (in percent of GDP)

  • <sup><xref ref-type="fig" rid="Rch01fig02">Figure 1.2</xref></sup>
    View in gallery
    Figure 1.2

    Money multipliers, 2007–09.

    (Ratio of broad money [U.S.: M2; Euro area: M3; U.K.: M4] to base money: August 2007 = 100.)

  • <sup><xref ref-type="fig" rid="Rch01fig03">Figure 1.3</xref></sup>
    View in gallery
    Figure 1.3

    Key central bank balance sheet items

    (cumulative changes from August 2007, in percent of GDP).

  • <sup><xref ref-type="fig" rid="Rch01fig04">Figure 1.4</xref></sup>
    View in gallery
    Figure 1.4

    Advanced economies: Illustrative scenario for fiscal adjustment

    (in percent of GDP).

  • Figure 1.5
    View in gallery
    Figure 1.5

    Monetary sector heat map.

Figure 1.1

Government debt in G-7 countries, 1950–2010

(in percent of GDP)
Figure 1.2

Money multipliers, 2007–09.

(Ratio of broad money [U.S.: M2; Euro area: M3; U.K.: M4] to base money: August 2007 = 100.)
Figure 1.3

Key central bank balance sheet items

(cumulative changes from August 2007, in percent of GDP).
Figure 1.4

Advanced economies: Illustrative scenario for fiscal adjustment

(in percent of GDP).
Figure 1.5

Monetary sector heat map.