Financing of fiscal response to COVID-19: a pragmatic alternative
Ayushi Bajaj and
Gaurav Datt
Indian Economic Review, 2020, vol. 55, issue 1, No 8, 149-160
Abstract:
Abstract 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.
Keywords: Deficit monetization; Monetary policy; Debt management; Covid-19 fiscal response (search for similar items in EconPapers)
JEL-codes: E58 E63 H62 H63 (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1007/s41775-020-00090-6
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