{"title":"MONETARY POLICY AND GOVERNMENT DEBT MANAGEMENT DURING THE CORONAVIRUS PANDEMIC","authors":"W. Allen","doi":"10.1017/nie.2021.1","DOIUrl":null,"url":null,"abstract":"This paper describes how the large budget deficits of 2020 in the United States and the United Kingdom were financed, how central banks are in practice managed not just short-term interest rates but also yields on government bonds, and how their ability to resist a post-coronavirus surge in inflation has been compromised.","PeriodicalId":45594,"journal":{"name":"National Institute Economic Review","volume":"255 1","pages":"79 - 84"},"PeriodicalIF":1.2000,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1017/nie.2021.1","citationCount":"5","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"National Institute Economic Review","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1017/nie.2021.1","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 5
Abstract
This paper describes how the large budget deficits of 2020 in the United States and the United Kingdom were financed, how central banks are in practice managed not just short-term interest rates but also yields on government bonds, and how their ability to resist a post-coronavirus surge in inflation has been compromised.
期刊介绍：
The National Institute Economic Review is the quarterly publication of the National Institute of Economic and Social Research, one of Britain"s oldest and most prestigious independent research organisations. The Institutes objective is to promote, through quantitative research, a deeper understanding of the interaction of economic and social forces that affect peoples" lives so that they may be improved. It has no political affiliation, and receives no core funding from government. Its research programme is organised under the headings of Economic Modelling and Analysis; Productivity; Education and Training and the International Economy.
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