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Alternative Policy Responses to the Global Financial Crisis

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  • Tom Valentine

Abstract

Governments have reacted to the economic slowdown arising from the Global Financial Crisis by injecting a fiscal stimulus into their economies. This policy will be ineffective when the country has a floating exchange rate, because the resulting inflow of funds will cause the exchange rate to appreciate, offsetting the stimulus effect. The experience of the Great Depression has suggested a better package of policies to deal with a global slowdown.

Suggested Citation

  • Tom Valentine, 2009. "Alternative Policy Responses to the Global Financial Crisis," Economic Papers, The Economic Society of Australia, vol. 28(3), pages 264-269, September.
    • Handle: RePEc:bla:econpa:v:28:y:2009:i:3:p:264-269
    DOI: 10.1111/j.1759-3441.2009.00029.x
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    1. Tom Valentine, 2004. "Real Wages and Unemployment: State of the Debate," Agenda - A Journal of Policy Analysis and Reform, Australian National University, College of Business and Economics, School of Economics, vol. 11(4), pages 307-320.
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