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MONETARY POLICY AND GOVERNMENT DEBT MANAGEMENT DURING THE CORONAVIRUS PANDEMIC

Published online by Cambridge University Press:  16 March 2021

William A. Allen
William A. Allen*
Affiliation:
National Institute for Economic and Social Research, London, United Kingdom
*
*Corresponding author. Email: [email protected]
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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.

Keywords

central bank operationsgovernment bondsE52E58E63
Type
Notes and Contributions
Information
National Institute Economic Review , Volume 255: NEW DIRECTIONS IN SOCIAL SCIENCES AND POLICY IDEAS , February 2021 , pp. 79 - 84
Copyright
© National Institute Economic Review 2021

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