Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/309157 
Year of Publication: 
2024
Series/Report no.: 
Working Paper No. 1059
Publisher: 
Levy Economics Institute of Bard College, Annandale-on-Hudson, NY
Abstract: 
The central lesson of the COVID-19 fiscal response is that money is not scarce. Without delay, governments around the world appropriated budgets that dwarfed any other postwar crisis policy. In 2020, Japan passed a stimulus package equal to 54.8 percent of GDP, while in the U.S., it was equivalent to 26.9 percent and in Canada to 20.1 percent. Italy, France, and Germany spent 10.1, 10.4, and 10.7 percent of GDP, respectively.
Subjects: 
COVID-19
Economic recovery
Government expenditure
Pandemics
Document Type: 
Working Paper

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