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Fiscal Success During COVID-19 Says Believe the Good News

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  • Adam S. Posen

    (Peterson Institute for International Economics)

Abstract

Too much blood in terms of unemployment and sweat in terms of intellectual effort has been spent on trying to determine the amount of fiscal space that economies have — our policy focus instead should be on what to do with the fiscal space that almost all advanced economies (and a surprising number of emerging market economies) actually have.

Suggested Citation

  • Adam S. Posen, 2021. "Fiscal Success During COVID-19 Says Believe the Good News," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 56(4), pages 190-193, July.
    • Handle: RePEc:spr:intere:v:56:y:2021:i:4:d:10.1007_s10272-021-0980-y
    DOI: 10.1007/s10272-021-0980-y
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    References listed on IDEAS

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    1. Olivier Blanchard, 2019. "Public Debt and Low Interest Rates," American Economic Review, American Economic Association, vol. 109(4), pages 1197-1229, April.
    2. Olivier J Blanchard, 2019. "Public Debt: Fiscal and Welfare Costs in a Time of Low Interest Rates," Policy Briefs PB19-2, Peterson Institute for International Economics.
    3. Peter R Orszag & Robert E Rubin & Joseph E Stiglitz, 2022. "Fiscal resiliency in a deeply uncertain world: The role of semiautonomous discretion [Revisiting the Federal Budget Outlook]," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 31(2), pages 281-300.
    4. Olivier J. Blanchard & Lawrence H. Summers, 2020. "Automatic Stabilizers in a Low-Rate Environment," AEA Papers and Proceedings, American Economic Association, vol. 110, pages 125-130, May.
    5. Schmelzing, Paul, 2020. "Eight centuries of global real interest rates, R-G, and the ‘suprasecular’ decline, 1311–2018," Bank of England working papers 845, Bank of England.
    6. Olivier J Blanchard & Josh Felman & Arvind Subramanian, 2021. "Does the new fiscal consensus in advanced economies travel to emerging markets?," Policy Briefs PB21-7, Peterson Institute for International Economics.
    7. Olivier Blanchard & Alvaro Leandro & Jeromin Zettelmeyer, 2021. "Redesigning EU fiscal rules: from rules to standards," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 36(106), pages 195-236.
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    Cited by:

    1. Christian Breuer, 2021. "Structural Indicators and the Fiscal Uncertainty Principle," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 56(4), pages 182-183, July.

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