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COVID-19 and Macroeconomic Uncertainty: Fiscal and Monetary Policy Response

Lekha cHAKRABORTY () and Emmanuel Thomas ()
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Emmanuel Thomas: St Thomas College

Working Papers from National Institute of Public Finance and Policy

Abstract: The macroeconomic uncertainty created by COVID-19 is hard to measure. The situation demands simultaneous policy intervention in terms of public health infrastructure and livelihood. Along with the global community, India too has announced its initial dose of fiscal and monetary policy responses. However, more fiscal-monetary policy coordination is required to scale up the policy response to the emerging crisis. Innovative sources of financing the deficit, including money financing of fiscal programmes, a variant of "helicopter money," need to be explored.

Pages: 11
Date: 2020-04
New Economics Papers: this item is included in nep-mac
Note: Working Paper 302, 2020
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