Francesco D'Acunto, Daniel Hoang, Michael Weber, 27 April 2016

The Eurozone faces zero inflation paired with low economic growth. With monetary policy hobbled by the zero lower bound, it is time to think more broadly. This column discusses the theoretical and empirical evidence on ‘unconventional fiscal policy’.  Such policies aim to increase growth and inflation in a budget-neutral fashion, while keeping the tax burden on households constant.

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