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MONETARY POLICY AND GOVERNMENT DEBT MANAGEMENT DURING THE CORONAVIRUS PANDEMIC
William A. Allen
Journal:

National Institute Economic Review / Volume 255 / February 2021

Published online by Cambridge University Press:

16 March 2021, pp. 79-84

Print publication:

February 2021
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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.

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MONETARY POLICY AND GOVERNMENT DEBT MANAGEMENT DURING THE CORONAVIRUS PANDEMIC