Fighting the COVID-19 Crisis: Debt Monétisation and EU Recovery Bonds
Abstract This paper highlights some peculiar characteristics of the economic crisis induced by the spread of COVID-19. It suggests two intertwined policy measures in order to tackle the emergency phase of the crisis and to support the economy in the subsequent recovery phase. The proposed short-term...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Springer
2020-07-01
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| Series: | Intereconomics |
| Online Access: | https://doi.org/10.1007/s10272-020-0907-z |
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| Summary: | Abstract This paper highlights some peculiar characteristics of the economic crisis induced by the spread of COVID-19. It suggests two intertwined policy measures in order to tackle the emergency phase of the crisis and to support the economy in the subsequent recovery phase. The proposed short-term policy measures offer policy responses in the event of a second wave of coronavirus infections in the coming months. In the aftermath of the emergency phase, the current proposal puts forward the implementation of a massive EU-wide recovery plan addressing the long-lasting technological and environmental challenges of these years, which will be financed by European institutions through the issuance of European Pandemic Recovery Bonds. |
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| ISSN: | 0020-5346 1613-964X |