García-Herrero, Alicia; Benigno, Gianluca; Hartley, … - 2023
than they had at the onset of the 2008 global financial crisis (IMF, 2020; World Bank, 2020). Such sudden stops in capital … al., 2020). Unfortunately, austerity and currency depreciations as enacted during the global financial crisis will not … mitigate this double whammy of capital outflows and policies to cope with the pandemic. We argue that purchases of local …
