Opinión

Rediscovering Fiscal Policy at the G7

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ALGIERS – As G7 leaders convene in Ise-Shima, Japan, the global economy's fragility is a top concern. But instead of focusing on currency wars, the leaders of the major developed economies should be discussing fiscal policy, which under current conditions would be a more powerful tool than monetary policy for boosting economic activity. After all, today, unlike in normal times, the effects of fiscal policy would not be limited by too-high interest rates, inadequate private demand, strict capacity constraints, or excessive inflation.








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