Monetary Financing of Public Debt and Soft Budget Constraints Based on Experience of OECD Countries
Economic Perspectives - Challenges, Strategies, and Policy Implications: 37ECO 2021
The issue of monetary financing of public debt is one of the more important problems that monetary and fiscal authorities will face after the end of the COVID-19 pandemic. On the basis of many years of experience of OECD countries, this paper classifies the instruments…