The risks of exiting too early the policy responses to the COVID-19 recession

Nuno Cassola, Paul De Grauwe, Claudio Morana and Patrizio Tirelli
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Nuno Cassola: CefES; CEMAPRE, University of Lisbon, Portugal
Paul De Grauwe: EI, London School of Economics and Political Science, UK

Working Paper series from Rimini Centre for Economic Analysis

Abstract: This policy brief warns about the risks of discontinuing the policy responses to the COVID-19 crisis by pursuing exit strategies too early and/or too sharply. It outlines a comprehensive strategy for limiting such risks globally and offers an in-depth discussion of the European situation. Due to fiscal rules written in a pre- COVID-19 era and excessive emphasis on controlling public debt ratios, the Euro Area could be left with long-lasting scars, so its situation requires special treatment. Therefore, we articulate some policy proposals designed to preserve and strengthen the recovery in the EMU.

Date: 2021-11
New Economics Papers: this item is included in nep-mac
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http://rcea.org/RePEc/pdf/wp21-22.pdf

Related works:
Working Paper: The risks of exiting too early the policy responses to the COVID-19 recession (2022)
Working Paper: The risks of exiting too early the policy responses to the COVID-19 recession (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:rim:rimwps:21-22

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