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To coordinate or not to coordinate? CEPS Commentaries, 7 October 2009

De Grauwe, Paul. (2009) To coordinate or not to coordinate? CEPS Commentaries, 7 October 2009. [Policy Paper]

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    Abstract

    A key question confronting the G20 leaders is the desirability of coordinating exit strategies. Empirical research suggests that demand spillovers from fiscal policy are sufficiently small that uncoordinated exits from fiscal stimulus programmes are unlikely to threaten global demand. This Commentary by Paul De Grauwe argues that that research is flawed as it was based on data and theory for economies near full employment – not today’s situation. He concludes that G20 leaders need to address fiscal and monetary stimulus coordination exit strategies.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > fiscal policy
    Other international institutions > G7/G8/G20
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Commentaries
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 10 Aug 2010
    Page Range: p. 3
    Last Modified: 15 Feb 2011 18:34
    URI: http://aei.pitt.edu/id/eprint/14539

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