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Any Room for Moderate Fiscal Expansion Here?

Posted by Yapi Kredi Bank in July 2nd 2008  
It is not a rare phenomenon that policy implementation has been misinterpreted, misperceived and thus hopelessly/fruitlessly debated here. Take the IMF program implemented in the aftermath of the devastating 2001 crisis for instance; the foundations of that program were almost unanimously perceived as the usual IMF recipe regarding fiscal and monetary policy: tightness here, tightness there, tightness everywhere. That indeed was neither the recommendation of the Fund nor the implementation. Read More...

Filed under: Fundamental