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Helicopter Drops of Money

The Pros and Cons of Monetised Fiscal Deficits to Fight the Next Economic Slump

by Nouriel Roubini and Brunello Rosa

13 November 2019

In this paper we discuss:

  • How likely a new global economic recession and financial crisis is in coming years;
  • The policy options available to counter this slump;
  • Why the concept of fiscal-monetary coordination will become popular;
  • How to prevent permanent monetisation of fiscal deficits and politicisation of such a proposal;
  • How to implement deficit monetisation in practice; and
  • Whether or not deficit monetisation is always the right policy response.

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Download PDF: Monetary Financing - November 2019

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