Reinhart, Carmen and Reinhart, Vincent (2009): Fiscal stimulus for debt intolerant countries?
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Fashions are hard to resist, and it is now fashionable in much of the North to rely on a fiscal engine of growth. As for emerging markets, however, boosting spending at a time in which revenues are contracting or, in many cases, collapsing for an uncertain period of time is an more complicated matter. Policymakers would do well to keep four risks in mind. Fiscal multipliers: North and South; Emerging markets and global crowding out; Domestic debt is no panacea; and Above all--remember debt intolerance!
|Item Type:||MPRA Paper|
|Original Title:||Fiscal stimulus for debt intolerant countries?|
|Keywords:||fiscal stimulus, debt, financial crises, procyclical policies|
|Subjects:||F - International Economics > F0 - General > F00 - General
E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E50 - General
E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook > E60 - General
|Depositing User:||Carmen Reinhart|
|Date Deposited:||25. Aug 2009 18:00|
|Last Modified:||13. Feb 2013 21:20|
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