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Financing of fiscal response to COVID-19: a pragmatic alternative

As governments around the world, including the Indian government, mount a fiscal response to the Covid-19 crisis, the question of how to finance it has risen to prominence. We argue that the option of the central bank monetizing the additional government debt and then writing it off offers a pragmat...

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Detalles Bibliográficos
Autores principales: Bajaj, Ayushi, Datt, Gaurav
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer India 2020
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7411267/
https://www.ncbi.nlm.nih.gov/pubmed/32836355
http://dx.doi.org/10.1007/s41775-020-00090-6
Descripción
Sumario:As governments around the world, including the Indian government, mount a fiscal response to the Covid-19 crisis, the question of how to finance it has risen to prominence. We argue that the option of the central bank monetizing the additional government debt and then writing it off offers a pragmatic way out.