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Evidence from the Global Trade Alert*
from Part II - Assessing and Benchmarking Policy
Published online by Cambridge University Press: 25 October 2019
The contribution of fiscal policy to restoring economic growth has waxed and waned since the onset of the global economic growth. After an initial burst of fiscal stimulus in 2008 and 2009, many governments retrenched, turning to austerity policies from 2010. While some detect a revival of fiscal activism during the past year (Davies, 2016; Ip, 2016), monetary policy has been the principal tool of macroeconomic policy in many G20 nations.
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