CEPII, Recherche et Expertise sur l'economie mondiale
Covid-19: Has the Time Come for Mainstream Macroeconomics to Rehabilitate Money Printing?
The scale of public expenditure to be incurred in the Covid-19 health crisis is raising heated debates about the appropriate funding. Long rejected by mainstream macroeconomics due to its possible inflationary consequences, monetization is currently undergoing a surprising rehabilitation. Financing public expenditure by money issuance - without the government ever reimbursing the central bank-, appears as an attractive solution in a context where the burden of public debt could become particularly problematic due both to the persistent threat of secular stagnation and the massive Covid-19 shock. This policy brief offers some theoretical insights into this debate opposing monetization and issuance of additional public debt.
Trade & Globalization
Competitiveness & Growth
Emerging Countries
Environment & Natural Resources
Europe
Migrations
Money & Finance
Economic Policy


Online seminar series on The Economics of Migration: Integrating Refugees: Language Training or Work-First Incentives? with Giovanni Peri (University of California, Davis)
May 27, 2020

Online seminar series on The Economics of Migration with Esther Arenas-Arroyo (Vienna University of Economics and Business)
June 3, 2020

Webinar "La croissance américaine et la pandémie du Covid-19" avec Laurent Ferrara, Professeur d’économie internationale, SKEMA Business School
June 4, 2020  

Online seminar series on The Economics of Migration with Dean Yang (University of Michigan)
June 10, 2020

Webinar "Post Covid-19: où va la Chine?" Avec Mary-Françoise RENARD, Professeur, Université Clermont Auvergne, et Camille Macaire, chercheur au CEPII
June 10, 2020  

20th Doctoral Meetings in International Trade and International Finance >> CANCELLED/ANNULÉ
June 11 - 12, 2020

Online seminar series on The Economics of Migration with Joan Llull (Universitat Autònoma de Barcelona)
June 17, 2020

Online seminar series on The Economics of Migration with Petra Moser (NYU Stern)
June 24, 2020


Online seminar series on The Economics of Migration:  "Refugees and Foreign Direct Investment: Quasi-Experimental Evidence from US" with Anna Maria Mayda (Georgetown University)
May 20, 2020

Webinar du Club du CEPII | Les conséquences économiques internationales du Covid-19 : un "désastre", et après ?
May 15, 2020  

Online seminar series on The Economics of Migration: "Returns to Low-Skilled International Migration: Evidence from the Bangladesh-Malaysia Migration Lottery Program" with Mushfiq Mobarak (Yale University)
May 13, 2020

Online seminar series on The Economics of Migration: "Like an Ink Blot on Paper: Testing the Diffusion Hypothesis of Mass Migration, Italy 1876-1920" with Yannay Spitzer (Hebrew University of Jerusalem)
May 6, 2020