Macro Musings with David Beckworth cover image

Claudio Borio on the Future of Central Bank Operating Systems

Macro Musings with David Beckworth

CHAPTER

Implications of Central Bank Balance Sheets for Fiscal Policy

Exploring the interaction between fiscal policy and financial stability and its impact on central bank balance sheets, questioning the importance of central banks holding a large portion of government debt and highlighting the fiscal implications of large-scale asset purchases.

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