Description

In response to the worst economic crisis since the 1930s, government budgets and central banks have provided substantial support for aggregate demand and for the financial sector. In the process, fiscal balances have deteriorated, government liabilities and central bank balance sheets have been expanded, and risks of future losses for the public sector have increased.

Taxonomy

Banks and banking , Central banks , Economic policy , Financial crisis , Financial institutions and markets , Fiscal policy , Inflation , International financial system , Monetary policy

More publications in this series: Staff Position Notes

More publications by: Carlo Cottarelli ; José Vinãls