Chafwehé, Boris; Oikonomou, Rigas; Priftis, Romanos; … - 2019
consolidated budget) monetary policy becomes subservient to fiscal policy, giving rise to more volatile inflation, output and … exit from the LT, on inflation and output is substantial. In this case monetary policy accomplishes to turn inflation … had an impact on monetary policy in the Great Recession, but this impact is likely to be small. …