Book notes: Central banks as fiscal players, by Willem Buiter
Buiter puts a real economic problem into a convincing theoretical frame, and translates it into applicable policy advice
Willem Buiter, Central banks as fiscal players: the drivers of fiscal and monetary policy space, Cambridge University Press, 2020, 216 pages
US president Joe Biden’s $1.9 trillion stimulus package – including $1,400 cheques to most adult Americans – may not fully match the definition of ‘helicopter money’, but it comes pretty close. Across the globe, there are many other examples of similar fiscal policy responses to the Covid-19 pandemic, accompanied by extremely accommodative monetary
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