volume 36, issue Supplement_1, PS297-S337 2020
DOI: 10.1093/oxrep/graa032
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Warwick McKibbin, David Vines

Abstract: Abstract The COVID-19 crisis has caused the greatest collapse in global economic activity since 1720. Some advanced countries have mounted a massive fiscal response, both to pay for disease-fighting action and to preserve the incomes of firms and workers until the economic recovery is under way. But there are many emerging market economies which have been prevented from doing what is needed by their high existing levels of public debt and—especially—by the external financial constraints which th…

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