39-siders analyse fra Pimco: Global Fiscal Policy and Debt Sustainability
25/6 10:30
“With deficits already elevated, future downturns will likely push them to historically high levels, potentially ~10% in the US. This may constrain active fiscal easing during recessions, shifting more burden to central banks. In the decade before the pandemic, fiscal space was ample and monetary policy space limited; now, fiscal space is limited and monetary […]...