The trouble with monetary policy is that it can happen quickly. For the fiscal policy so as to agree it takes far longer. In cases of emergency monetary policy is left with the only option of how to deal with a crisis – says...
The policy response of Narodowy Bank Polski has been swift and large and effective in limiting the economic scarring effects of the pandemic – adequate liquidity provision remains critical in the short-term. The anti-crisis...
The International Monetary Fund in its autumn projections seems to invariably envisage a V-shaped recovery, as it expects global GDP to grow by 5.2 per cent in 2021 following the 4.4 per cent decline in 2020. And yet never before...
The outbreak of the pandemic has led to the introduction of unprecedented anti-crisis fiscal and monetary policy measures aimed at supporting economic activity and the stability of the world financial system. Their effectiveness...
The central banks of the world’s major economies responded relatively quickly to the economic and financial threats caused by the pandemic by using several measures. The goal was to ensure the availability of preferential loan...
The crisis caused by the pandemic and the necessity of introducing a lockdown, have mobilized governments to launch anti-crisis packages. Regardless of the differences between the individual economies, they all share a similar...
We should not compare today’s crisis to the previous one, says Paul Tucker, former Deputy Governor of Bank of England. And what central banks are doing is, according to him, not business as usual but they have a reason: a...
New expansionary monetary and fiscal policies have been introduced in Poland to deal with the crisis due to the COVID-19, but with limited fiscal space a key question is how much the currency may depreciate.
After a year of panicky anticipation of a new recession scheduled for 2020 in Europe, on the brink of this fateful year, when only a little more patience had to be tolerated for a new economic drive, the consensus among...
Most countries of Western Europe used various types of austerity programs aimed at reducing the budget deficit in order to get out of economic trouble. Professor Alberto Alesina, an economist from Harvard University, examined...