Richard Wood — The failed policy response to the Global Crisis

The Global Crisis triggered a series of medium-term policy changes. This column reviews the effectiveness of some of these monetary, fiscal policies, and internal devaluation policies. Policymakers anchored their strategic thinking in paradigms that became inapplicable to the new problems. An alternative set of macroeconomic policies is suggested.

"Overt Money Financing" through direct issuance by either the central bank or Treasury.

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The failed policy response to the Global Crisis

Richard Wood