European economic policy for the COVID-19 crisis: Views of leading economists on lockdowns, Coronabonds and the ECB's role. 06/04/2020
"As the European economy experiences a severe economic contraction as a result of the coronavirus lockdowns, the IGM Forum at Chicago Booth invited its panel of leading European economists to express their views on Europe's economic policy response to the COVID-19 crisis: on whether the economic benefits from lockdowns are likely to outweigh the costs over the medium term; and on the desirability of a euro area fiscal policy response to supplement national measures, including the possibility of issuing new pooled debt instruments – ‘Coronabonds' – to fund government spending. This column reports three quarters of the experts agreeing that severe lockdowns are likely to be better for the economy in the medium term than less aggressive measures; over 90% calling for pan-European fiscal policy measures; but more divided opinions on the need for Coronabonds."
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