Discussion paper
DP11088 COEURE Survey: Fiscal and Monetary Policies after the Crises
We review the recent literature on macroeconomic stabilisation policy, with a particular focus on two major challenges that are particular to the post-crisis land- scape. These are, first, how to provide meaningful economic stimulus when the zero lower bound on nominal interest rates is binding. Second, how to design a stabilisation policy for the Eurozone that will remedy the large macroeconomic imbalances among member states.
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