Alternative Policy Responses to the Global Financial Crisis

Tom Valentine

Economic Papers, 2009, vol. 28, issue 3, 264-269

Abstract: Governments have reacted to the economic slowdown arising from the Global Financial Crisis by injecting a fiscal stimulus into their economies. This policy will be ineffective when the country has a floating exchange rate, because the resulting inflow of funds will cause the exchange rate to appreciate, offsetting the stimulus effect. The experience of the Great Depression has suggested a better package of policies to deal with a global slowdown.

Date: 2009
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https://doi.org/10.1111/j.1759-3441.2009.00029.x

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