Fighting the COVID-19 Crisis: Debt Monetisation and EU Recovery Bonds

by Alberto Botta, Eugenio Caverzasi and Alberto Russo, 2021, ZBW – Leibniz Information Centre for Economics 239 Coronavirus Crisis Alberto Botta, Eugenio Caverzasi and Alberto Russo Fighting the COVID-19 Crisis: Debt Monetisation and EU Recovery Bonds This paper highlights some peculiar characteristics of the economic crisis induced by the spread of COVID-19. It suggests two intertwined policy measures in order to tackle the emergency phase of the crisis and to support the economy in the subsequent recovery phase. The proposed short-term policy measures offer policy responses in the event of a second wave of coronavirus infections in the coming months. In the aftermath of the emergency phase, the current proposal puts forward the implementation of a massive EU-wide recovery plan addressing the long-lasting technological and environmental challenges of these years, which will be fi nanced by European institutions through the issuance of European Pandemic Recovery Bonds. Alberto Botta, University of Greenwich, UK. Eugenio Caverzasi, Università degli Studi dell’Insubria, Varese, Italy. Alberto Russo, Universitat Jaume I, Castellòn de la Plana, Spain; and Università Politecnica delle Marche, Ancona, Italy. © The Author(s) 2020. Open Access: This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (https://creativecommons.org/licenses/by/4.0/). Open Access funding provided by ZBW – Leibniz Information Centre for Economics. DOI: 10.1007/s10272-020-0907-z

Viernes 1ro de octubre de 2021, por Carlos San Juan