Tag Archives: policy responses

What about “Terms and Conditions”? Going Back to the Code of Hammurabi

What matters is not so much the money supply or the T-bill interest rate, but the availability of credit, and the terms at which credit is made available…. An increase in credit availability may not lead to more spending on produced goods, but increased prices for land or other fixed assets; it can go to […]

Coronavirus and the Global Economy: Central Banks’ Policy Responses Update 1

This post is an update of our blog Coronavirus and the Global Economy: Central Banks’ Policy Responses published on 5 March 2020, chronicling central banks and policymakers’ responses to COVID-19. We note that the COVID-19 outbreak has generated both demand and supply shocks reverberating across the global economy. Among major economies outside of China, the […]

Coronavirus and the Global Economy: Central Banks’ Policy Responses

Since the outbreak of the novel coronavirus (Covid-19) in China, central bankers and policymakers have kept a very sharp eye on the health of the global economy. In some cases, Covid-19 has been compared to SARS in 2003, which some economists estimate cost the global economy $45 billion. At that time China only represented 8% […]