Monetary and Fiscal Policy in the Next Recession
Balsillie School of International Affairs, Wilfrid Laurier University, Waterloo, Ontario, CanadaLaurence M. BallAngelo MelinoJohns Hopkins Universityand NBERUniversity of Toronto, RCEAand C.D.Howe Institute The current macroeconomic situation will make it more difficult than ever for policymakers to stimulate economies in the next recession. Policy interest rates cannot be reduced much since they are at record lows; public debt is, in most countries, at record high, and […]