Fiscal and Monetary Policies During the Great Recession: A Critical Evaluation

Vito Tanzi
Additional contact information
Vito Tanzi: Honorary President of the International Institute of Public Finance (IIPF), 5912 Walhonding Road, Bethesda, Md 20816, USA

Comparative Economic Studies, 2015, vol. 57, issue 2, 243-275

Abstract: This paper discusses the fiscal and monetary policies that were adopted by the crisis countries. It challenges the commonly held view that the countries followed policies of ‘austerity’. It shows that in most countries there was far less reduction of public spending than reported or believed. This paper argues that the fiscal and monetary policies that were followed may have had damaging repercussions on private investment and private spending, because of their impact on psychology and on uncertainty. This paper also questions the assumed benefits of the monetary policies followed, because of their negative impact on income distribution.

Date: 2015
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.palgrave-journals.com/ces/journal/v57/n2/pdf/ces201436a.pdf Link to full text PDF (application/pdf)
http://www.palgrave-journals.com/ces/journal/v57/n2/full/ces201436a.html Link to full text HTML (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:compes:v:57:y:2015:i:2:p:243-275

Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/41294/PS2

Access Statistics for this article

Comparative Economic Studies is currently edited by Nauro Campos

More articles in Comparative Economic Studies from Palgrave Macmillan, Association for Comparative Economic Studies Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().